An analysis shared by crypto chartist Ali suggests Solana (SOL) may be forming a key pattern, often associated with potential price surges. According to the tweet, SOL could rise to $4,000 if the pattern plays out as expected.
The chart shared by Ali highlights the formation of a cup-and-handle pattern, starting with a rounded bottom from 2022 to mid-2024. This cup-shaped recovery reflects growing market confidence after a downturn.
The handle phase emerged as SOL’s price consolidated within the $208–$216 range, a common occurrence before an anticipated breakout.
The pattern’s structure suggests an optimistic outlook for SOL, with the possibility of achieving an aggressive price target of $4,371.10. This represents a potential gain of over 1,860% from the base of the cup.
What you'll learn 👉
Key Solana Price Levels and Fibonacci Projections
The analysis uses Fibonacci retracement and extension levels to identify support and resistance zones crucial for SOL’s potential trajectory. SOL has already surpassed key retracement levels, including $65.29 (0.618) and $108.83 (0.786), and is now testing $208.68 (1.0 Fibonacci level).
If SOL breaks above the $216 resistance, the chart predicts a rally through Fibonacci extension targets, starting at $477.34 (1.272), then $1,367.50 (1.618), and potentially reaching $2,279.68 (1.786). The final projection of $4,371.10 aligns with the full potential of the cup-and-handle formation.
Read also: Crypto Veteran Predicts XRP Price to Hit $15 in 2025, Updates On New Altcoin Pick
Current Price Action and Breakout Requirements
As of now, SOL is trading at approximately $216.62, closely testing its current resistance. For the bullish pattern to confirm, a decisive breakout above $216 is necessary, accompanied by strong trading volume.
If the breakout occurs, the path toward the aggressive target hinges on sustained momentum through the projected Fibonacci levels. Broader market conditions, such as a potential crypto-wide bull market or increased institutional interest, could further support this trajectory.
Reaching the ambitious $4,371.10 price level will require extraordinary market conditions, including sustained demand for Solana’s ecosystem and significant market-wide bullish trends. While such a surge is optimistic, the near-term targets of $477 and $1,367 remain more achievable benchmarks if the pattern validates.
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