#Solana price displays a U-shaped recovery on the daily chart, indicating the formation of a cup and handle pattern.
This pattern signals a potential end to the downtrend and the beginning of an upward trend for the asset.
Following a four-day bullish surge, Solana now faces pressure akin to Bitcoin.
The bullish reversal pattern, Cup and Handle, exerts influence on $SOL price, projecting a stable bullish trend in the foreseeable future.
#Solana's breakout above the neckline resistance of the cup and handle pattern on February 29th marks a significant departure from nearly two years of sideways movement.
If the pattern continues to hold, buyers may target the theoretical goal of $250.
However, there is concern that an anticipated retracement could drive the price below the neckline support at $125.
According to Coingabbar's analysis, Solana price prediction 2030 aims for approximately $500, while Solana price prediction 2040 with potential to reach $1000
KEY LEVELS :
RESISTANCE LEVEL : $174-$180
SUPPORT LEVEL : $163-$156
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
