• Solana is currently testing a critical $200 resistance level – could a breakout above this point signal the start of a bullish surge?
• If Solana decisively breaks through $200, it might confirm the formation of a cup-and-handle pattern, potentially paving the way for significant upward momentum.
• The cup-and-handle pattern even gives us a potential price target, based on the depth of the “cup,” suggesting further gains if this breakout is successful.

Solana’s price is at a crucial juncture right now, and everyone’s watching to see which direction it will swing next. Breaking through that $200 resistance level would be a big deal, potentially validating a technical formation traders are calling a “cup-and-handle” pattern. If this happens, we could be looking at conditions ripe for a major price acceleration for Solana.

What is the Cup-and-Handle Pattern?

The cup-and-handle pattern is a well-known chart formation in the trading world that often signals bullish trends. It’s made up of two main parts: the “cup,” which is like a rounded dip in the price, and then the “handle,” which forms as the price consolidates a bit after the cup. According to analysis from Ali Charts, if Solana can overcome the $200 resistance, it would confirm the completion of this pattern, suggesting we might see a sharp price rally.

Solana has been testing both support and resistance levels as it trades within its current range. The cryptocurrency has made several attempts to push past that $200 mark, highlighting just how critical this level is for its next moves. A clear breakout beyond this price could really kick off a new bullish phase for Solana, potentially drawing in more buyers and boosting momentum.

Solana Key Levels to Watch 

The $200 resistance is still the main level everyone’s watching. If Solana can successfully break through it, we could see it aiming for higher price targets. Interestingly, the typical price target for a cup-and-handle pattern is figured out by measuring the depth of the “cup” and then adding that to the breakout point.

The current price action we’re observing with Solana really lines up with the possibility of this cup-and-handle pattern taking shape. That $200 level is proving to be super important in deciding where Solana goes next, especially since the price has been hovering around it. A breakout above this level wouldn’t just be a move – it would likely confirm the cup-and-handle pattern and signal a potentially significant upward surge.