{"id":36584,"date":"2025-10-09T09:31:37","date_gmt":"2025-10-09T09:31:37","guid":{"rendered":"https:\/\/financialrush.com\/?p=36584"},"modified":"2025-10-09T09:31:37","modified_gmt":"2025-10-09T09:31:37","slug":"sols-cup-and-handle-hints-at-425-target-bull-run-ahead","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=36584","title":{"rendered":"SOL\u2019s Cup and Handle Hints at $425 Target, Bull Run Ahead?"},"content":{"rendered":"

\n<\/p>\n

Solana (SOL) is showing multiple technical patterns on its monthly chart, drawing attention from traders and market watchers.<\/p>\n

Meanwhile, its price stands at around $225, with a 24-hour trading volume of $7.3 billion. It has gained 1% in the last day and 1% over the past week.<\/p>\n

Cup and Handle Pattern Forms on Monthly Chart<\/h2>\n

A monthly chart shared<\/a> by Lark Davis shows a possible cup and handle pattern on SOL. The formation stretches from the 2021 peak, through the 2022 low, to the current handle phase. The area between $270 and $301 remains a key zone. If SOL moves above this range, it may trigger a strong upward move.<\/p>\n

Using Fibonacci levels, the 1.618 extension places a price target around $425. A second target, based on the 2.618 level, is near $624. These figures come from historical price moves and are commonly used for tracking breakout levels. Davis noted that the $425 level lines up with the 1.618 projection.<\/p>\n

\"Solana<\/a>
Source: Lark Davis\/X<\/figcaption><\/figure>\n

MACD and RSI Indicators Show Strength<\/h2>\n

The monthly MACD is showing a crossover, where the main line is now above the signal line. This setup is often viewed as a sign of building momentum, especially on long-term charts. It has appeared during periods when trend changes begin to take shape.<\/p>\n

Another chart from CryptoJack points to an ascending triangle, with SOL pressing against horizontal resistance. The pattern is made of higher lows and flat highs, with resistance near $380. The monthly RSI has also crossed above its signal line. CryptoJack posted<\/a>,<\/p>\n

\n

\u201cSOL looks ready to explode. Ascending triangle + RSI golden cross = bullish combo. The breakout could be huge.\u201d<\/p>\n<\/blockquote>\n

This pattern still needs confirmation with a close above the resistance.<\/p>\n

Lennaert Snyder noted<\/a> that SOL bounced from weekly support near $193, keeping the higher timeframe trend in place. He mentioned that $213 could serve as a pullback level, with $232 acting as resistance for further upside.<\/p>\n

ETF Filing Adds Market Interest<\/h2>\n

Bitwise updated its Solana ETF filing this week, setting an annual fee of 0.20% and adding a staking feature. Bloomberg ETF analyst Eric Balchunas commented<\/a>,<\/p>\n

\n

\u201cThey prob figured it\u2019s gonna end up there anyway, so just do it now.\u201d<\/p>\n<\/blockquote>\n

He referred to the move as a bold step in a competitive market.<\/p>\n

The ETF is still awaiting a decision from the US Securities and Exchange Commission. Traders are watching how this may affect volume and sentiment around SOL.<\/p>\n

Separately, Jupiter, a decentralized exchange built on Solana, announced<\/a> plans to launch its own stablecoin, JupUSD, by year-end. The stablecoin will be used across its trading, lending, and derivatives products.<\/p>\n

The post SOL\u2019s Cup and Handle Hints at $425 Target, Bull Run Ahead?<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
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