Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible

Quick Summary:

Implications For Solana Price According to technical analysis, the recent all-time high on November 23 coincides with the 1.00 Fibonacci extension level when drawn from the 2022 bear market low of $8, which serves as the lowest point in the cup and handle pattern.  Related Reading: This Analyst Correctly Predicted The Bitcoin Flash Crash To $94,000, But There’s A New Target However, the correction that ensued since the all-time high has seen the Solana price retesting the breakout level of neckline for the cup and handle pattern.

According to Solana price analysis shared on social media platform X by crypto analyst Ali Martinez, a bullish cup and handle pattern on Solana’s chart is pointing to a rally to an unprecedented $4,000.

Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible In the case of Solana, the development of this pattern has been in action since 2022 through different market cycles.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: SOL Price Crypto SOLUSD Crypto analyst Analyst Sol SOLUSDT Crypto news Solana news Solana Price Solana SOL news

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Published On: 2024-12-11 @ 15:00:50 (22 hours ago)

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