The post Can Solana Price Soar to $400 After the Cup & Handle Breakout? appeared on BitcoinEthereumNews.com.

With Christmas approaching, Solana price is showing signs of regaining momentum it lost in the past few weeks. Bitcoin has hit a new ATH on Monday and altcoins, including SOL is looking bullish. Solana, a popular Ethereum-killer, has formed a Cup & Handle pattern that hints at a $400. Will SOL reach this new high in this bull run? Let’s explore. Solana Price: SOL Primed To Hit $400 After Cup & Handle Breakout Analyst shared an X post dissecting Solana’s recent price action, which has sparked a bullish breakout from a “Cup and Handle” pattern. As the analyst explained, Solana price has seemingly retested the neckline of this technical formation and now has an intermediate price target of $400.  The bullish continuation signal, often seen in technical analysis is the Cup and Handle pattern. That occurs when an asset bottoms out in a rounded shape (the ‘cup’) and then consolidates or pulls back a bit (the ‘handle’). This patterns signifies that price keeps accumulating and starting to move up when the price breaks the neckline resistance. Source: X SOL Technical Analysis As Bitcoin hits a record $105k, Solana price is still on the bullish wave.Following the lead, other top coins like Ethereum (ETH), SHIB, and Binance Coin (BNB) saw a surge in the past 24 hours, and it reflected the crypto market wide uptrends.  The latest SOL price is trading at $219 with a slight surge of 0.41% as of December 16, 2024. After a week of consolidation, Solana showed resilience, maintaining stability around the $220 mark. In the last 24 hours, SOL experienced a low of $216 and climbed to a high of $227, signaling positive movement despite fluctuations.  The Relative Strength Index (RSI) is currently hovering near 45, reflecting neutral momentum. The MACD has dipped below the signal…

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Filed under: News - @ December 16, 2024 1:20 pm