Solana eyes $4,700 after breaking out of this pattern
Decentralized finance (DeFi) asset Solana (SOL) will likely see an over 1,800% upside based on a bullish technical setup. Specifically, Solana has broken out of the bullish cup-and-handle pattern, signaling a potential target of $4,700 based on the formation’s historical implications, according to a projection shared by cryptocurrency analyst Ali Martinez in an X post on January 18. SOL price analysis chart. Source: TradingView/Ali_charts The cup-and-handle pattern resembles a rounded “cup” followed by a smaller “handle” dip. It signifies a period of consolidation before a breakout, reflecting growing buying pressure after a prolonged correction. When the price breaks above the resistance level at the “rim” of the cup, it often leads to a strong upward move. Picks for you 2 cryptocurrencies to r...