Solana’s Next Move: Why SOL Price Could Bounce Hard from $140 Level
The post Solana’s Next Move: Why SOL Price Could Bounce Hard from $140 Level appeared on BitcoinEthereumNews.com.
TLDR: SOL rejects at $182 resistance, forming the top of a textbook cup and handle pattern. Handle formation signals consolidation, with support expected near the $140–$145 zone. Solana network activity remains strong, supporting potential price recovery despite declines. $140 level marks a critical point—holding it could trigger bullish breakout attempts ahead. Solana has formed a distinctive cup and handle technical pattern that signals potential bullish momentum ahead. The crypto recently faced rejection at a critical resistance level, triggering a corrective phase. Market analysts expect the current pullback to find support around $140-$145 before staging a potential reversal. Network activity continues rising despite the recent price decline, suggesting underlying strength in the blockchain ecosystem. SOL Price Faces Major Resistance at $182 Level The Solana price encountered strong selling pressure at the $182 resistance zone in late May. This rejection created the top portion of what technical analysts identify as a cup formation. The resistance level represents a price point where previous buyers may have taken profits. Analyst Ted from social media platform X highlighted this technical setup in recent commentary. According to his analysis, the rejection from $182 marks a natural correction phase within the broader cup and handle pattern. The selling pressure at this level indicates institutional or whale activity influencing price action. $SOL cup and handle pattern formation. It got rejected from a major resistance level, and is now going through a correction. Network activity is still rising, so I expect this dip won’t last long. I think a retest of $140-$145 followed by a reversal is highly likely. pic.twitter.com/ZloDVKj1vv — Ted (@TedPillows) June 5, 2025 The cup and handle pattern began forming during mid-March when Solana established a rounded bottom. This technical formation typically signals bullish continuation when completed successfully. The cup portion showed gradual buyer accumulation as…
Filed under: News - @ June 5, 2025 6:25 pm