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cryptonews 2025-04-29 14:30:22

Solana Price Prediction: Could the ‘Cup and Handle’ Pattern Send SOL to New Highs?

Solana Price Prediction: Could the ‘Cup and Handle’ Pattern Send SOL to New Highs?

SOL is back in the spotlight, as a bullish multi-year cup-and-handle pattern fuels growing excitement around an ambitious Solana price prediction . The formation has gained fresh relevance with recent strong performance—up 55% since early April—positioning Solana as one of the standout gainers among major altcoins . Still, broader economic uncertainty casts a shadow. As the US-China trade war starts to hit consumers and analysts price in a summer recession, sentiment could sour quickly. Solana has shown particular vulnerability to macro turbulence, shedding more than 65% since the US tariff war started just four months ago. Solana Price Prediction: Is SOL in for a New High? Popular X analyst Ali Martinez brought attention to the “textbook-perfect” cup and handle pattern after a decisive rebound off the lower support of the descending channel forming the handle. SOL / USDT 1-week chart, cup-and-handle pattern. Source: TradingView / Binance. The month’s reversal has proven the pattern’s integrity and set the Solana price on the breakout path, approaching its upper resistance. A successful breakout targets highs around $450, marking a potential 200% gain from current prices, though Martinez alluded to potential 4-figure gains. The setup appears increasingly plausible as technical indicators skew bullish. The Relative Strength Index (RSI) is trending upward, now closing in on the neutral 50 mark—typically a sign of growing buying pressure. More so, the MACD line closes in on a bullish golden cross, en route to overtake the signal line. This formation on the weekly time frame often coincides with major trend shifts. The last of which corresponded to the post-election and inauguration rallies—explosive periods which took the Solana price ot new highs. That said, Solana’s recent push has been rejected at the $160 resistance level—a key barrier that must be overcome to confirm a breakout. Overcoming it could trigger a rally towards the next key resistance level at $190. However, failure may trigger a correction, eying the next significant support around $125—a cause for concern with looming economic uncertainty. This New ICO Could Benefit Most From the Next Solana Rally New ICO Solaxy ($SOLX) could be the biggest beneficiary of a Solana price breakout as its first-ever Layer-2 scaling solution, filling a critical gap in the ecosystem. Solana has long lacked this capability, limiting its DeFi and cross-chain use case—until now. By processing transactions off-chain and finalizing them on Solana, Solaxy significantly reduces congestion and lowers transaction costs, while offering seamless interoperability across both blockchains. With over $32 million in its ongoing presale , investors are already rallying behind the project. When demand for Solana returns, it could be the one to reap fresh ecosystem liquidity. You can keep up with Solaxy on X and Telegram , or join the presale on the Solaxy website . The post Solana Price Prediction: Could the ‘Cup and Handle’ Pattern Send SOL to New Highs? appeared first on Cryptonews .

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