$4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	22,169,307,903	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

22,169,307,903

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.002439	0.96%	0.256003	0.255895	0.25598

Price Change

Price Change %

Current Price

Bid Price

Offer

0.002439

0.96%

0.256003

0.255895

0.25598

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.256483	0.253364	0.253564	0.253564	0.077142 - 0.449994

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.256483

0.253364

0.253564

0.077142 - 0.449994

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	07:42:23	35.21	0.256003	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

07:42:23

35.21

0.256003

USD

Price x Volume	Volume	Base Symbol	Related Pairs
41,788.01	163,574.50	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

41,788.01

163,574.50

$4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern

20/11/2024 6:00pm

NEWSBTC

The Solana price could be gearing up to reach a new ATH of $4,000, according to an analyst who highlighted its recent breakout from a massive Cup and Handle pattern. This bullish signal comes on the heels of recent gains in the Solana (SOL) price, which have pushed it significantly above the $200 mark, indicating strong upward movement. Solana Price Targets $4,000 Breakout A Crypto analyst identified as ‘CryptoRus’ has shared a longstanding prediction that suggests Solana could reach $4,000 by the end of the current market cycle. The analyst has based this bullish outlook on a technical pattern called the “Cup and Handle.” Related Reading: Analyst Predicts Possible 40% Crash For XRP Price With Gravestone DOJI Candle Formation According to CryptoRus, Solana has just broken out of its Cup and Handle pattern formation on its price chart. This unique chart pattern is considered a bullish signal and, in technical analysis, signals an extending upward trend. The analyst’s chart illustrates Solana’s price action on the weekly time frame, using the aforementioned technical pattern as the basis of analysis. From 2022 to mid-2024, Solana experienced a period of consolidation and recovery, as seen in the cup part of the technical pattern. The “handle” in the chart pattern also shows slight consolidation; however, the analyst has pinpointed a breakout signal at the end. This breakout is set to occur once Solana can surpass resistance levels between $195 and $255. After the anticipated breakout, the analyst suggests a solid upward trend, with projections implying a greater upside above $4,450 to a staggering $5,000. A surge to this impressive target would require Solana to experience a 2,027% rally from its current price. Earlier this week, when Solana was on the verge of breaking out of its Cup and Handle technical pattern, the analyst revealed in a previous X post that the Cup depth of the pattern suggests a bullish price target of $400 for Solana in this market cycle. A surge to $400 would represent a 70.21% increase from present market values. Update On Price Movements Recently, the Solana price has been on a significant upward trend, recording impressive gains amidst the bull market. This bullish price movement comes as Bitcoin sees massive gains that have pushed it to a new ATH above $93,000. Related Reading: Bitcoin Price Forms Bullish Symmetrical Triangle, Crypto Analyst Says Next Stop Is $100,000 As one of the world’s leading altcoins, many analysts have projected bullish targets for the Solana price, expecting it to hit new all-time highs as the bull market heats up. As of writing, the Solana price is trading at $237, recording a 14.88% increase in the last seven days and an even larger price gain of 41.7% over the past month, according to CoinMarketCap. While the cryptocurrency’s daily trading volume of $6.8 billion is down by 12.32%, Solana still shows promise of a surge if market conditions remain favorable. Featured image created with Dall.E, chart from Tradingview.com

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