Solana (SOL) may be on the verge of a major breakout, according to popular technical analyst Ali Martinez, who recently highlighted a textbook “cup and handle” formation developing on the asset’s long-term chart.
The setup, which spans back to late 2022, is considered one of the most bullish patterns in classical charting.
The chart shared by Ali shows SOL forming a deep, rounded bottom—the “cup”—followed by a downward-sloping consolidation known as the “handle.” This formation typically signals a period of accumulation followed by a potential surge in buying momentum once resistance is cleared.
The critical resistance level lies near the $210 mark. According to Ali, a decisive breakout above this level could “trigger a parabolic bull run,” with price targets potentially extending into the four-digit range over time.
While the chart does not specify an exact target, the accompanying projection arrow suggests a move of significant magnitude.
Ali advises traders not to wait for the breakout to unfold but to prepare in advance, suggesting that if resistance is breached, Solana’s price could accelerate rapidly. The pattern implies organic accumulation rather than speculative hype, which further supports the idea of a sustainable rally.
As Solana trades around $186 at the time of analysis, market participants are watching closely. A breakout above $210 would not only validate the bullish setup but could also reignite broader momentum across the Layer 1 space.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/solana-approaches-key-breakout-level-as-classic-pattern-emerges/