CandleFocus SOL’s Cup and Handle Projects 47% Gain Amid $1.18B Inflows
2024-12-06
Author: Content Editor
Solana's native token, SOL, has formed a classic cup-and-handle pattern on its daily timeframe, indicating bullish momentum. The asset formed a rounded cup bottom and broke out of resistance at $212.36. The handle correction tested key support levels and the projected price target suggests a possible 47% rally to $313.46. The relative strength index shows mild bullish momentum, and the positive market inflows and positive Open Interest Weighted Funding Rate further support the positive outlook. Analysts, including Raoul Pal and Astekz, also believe that SOL is poised for an upward movement, with the potential to reach new all-time highs.
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