Solana Price Is Breaking Out Of This Bullish Pattern

Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	62,573,688,381	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Solana

SOLUSD

Crypto

62,573,688,381

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.710	0.56%	128.15	128.14	128.15

Price Change

Price Change %

Current Price

Bid Price

Offer

0.710

0.56%

128.15

128.14

128.15

High Price	Low Price	Open Price	Prev. Close	52 Week Range
128.45	127.41	127.54	127.44	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

128.45

127.41

127.54

127.44

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	01:00:41	0.120000	128.15	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

01:00:41

0.120000

128.15

USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,915,468.71	30,598.77	SOL	SOLEUR	SOLGBP	SOLBTC

Price x Volume

Volume

Base Symbol

Related Pairs

3,915,468.71

30,598.77

Solana Price Is Breaking Out Of This Bullish Pattern — SOL To $4,700?

19/01/2025 3:00pm

NEWSBTC

The Solana price has been in red-hot form over the past week, making a play for a new all-time high this weekend. United States President-elect Donald Trump successfully launched the Official Trump (TRUMP) meme coin on the Solana network, triggering the latest bullish momentum for the SOL token. This recent burst of positivity has now pushed Solana into an exciting price setup, which could see its value skyrocket over the next few months. According to a popular crypto analyst on social media platform X, the Solano price could be on its way to $4,700. Is SOL Price Gearing For A Parabolic Move? Prominent crypto pundit Ali Martinez took to the X platform to share an interesting update on the Solana price setup. According to the crypto trader, the price of SOL has just broken out of a bullish pattern, setting the stage for a parabolic move. Related Reading: Bitcoin Price Forecast Of $150,000 ‘Too Low’ Amid Rising Adoption, Crypto Trader Says This bullish pattern is a cup and handle formation on the Solana monthly chart. As the name suggests, a cup and handle pattern is a technical analysis formation that looks like a cup with a handle. The cup typically is formed like the letter “u” while the handle is tilted a little downward. The cup and handle pattern serves as a bullish indicator, suggesting that an upward trend is going to continue. To validate the bullish setup, though, the cryptocurrency’s price needs to close above the upper boundary of the handle. As seen in the highlighted chart, the Solana price appears to have successfully breached the handle’s upper trendline around the $220 mark. A price target is calculated by measuring the length from the right cup lip (breakout point) to the cup’s bottom and adding it to the breakout level. According to Martinez, SOL could travel as high as $4,700 if the altcoin’s price holds above the upper trendline. This potential move would represent a whopping 2,000% rally for Solana from its current price point. Solana Price At A Glance As of this writing, the price of SOL stands at around $262, reflecting a nearly 20% rally in the past 24 hours. Unsurprisingly, this price upswing has also impacted the coin’s action on broader timeframes, making it one of the best-performing large-cap assets in the past week. Related Reading: Crypto Analyst Sets $7,000 Target For Ethereum Price — Here’s How According to data from CoinGecko, the value of the Solana token has climbed by almost 40% in the last seven days. With a market cap of roughly $128 billion, SOL ranks as the fifth-largest cryptocurrency in the digital asset sector. Featured image from Dreamstime/Aivaras Sakurovas, chart from TradingView

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SOLUSD Solana