 
 
According to a market expert, Solana (SOL) is preparing for a massive price breakout. This move could position the 6th most valued cryptocurrency by market cap to continue in an upward trajectory. While most top altcoins are underperforming Bitcoin at this time, SOL is amongst the select few altcoins outperforming the apex crypto asset at the time of report.
Analyst Ali Chart, known for his concise altcoin bullish price predictions, has taken to X to share his near-term outlook with his 147,600 followers, with a focus on Solana (SOL).
The market participant noted that SOL is in the early stages of a bullish price breakout and may be poised to test the $187 price level.
Notably, SOL has successfully broken into the $180 price mark and is poised to hit new levels in the near term, should the current momentum be sustained.
In a follow-up post, the analyst remarked that SOL has scored a huge following after its breakout from a textbook cup and handle pattern.
 
Notably, the cup and handle pattern is a bullish technical pattern that signals a potential upward price rally, where the Cup is a U-shaped recovery formed over months, preceding a price decline. The cup pattern displays a return to the starting price level.
On the other hand, the handle pattern, a downward-sloping consolidation that follows the cup, often lasts for weeks and signals the last halt before a breakout.
The breakout occurs when the price breaks above the cup’s resistance and confirms the pattern. A price target is then typically established through the addition of the cup’s depth to the breakout level.
The analyst asserts that the new development positions SOL for a long-term price surge to the $1,315 price target.
At the time of this report, SOL is trading at $191 with gains from the past 24 hours going up by 8.87%.
Source: https://zycrypto.com/analyst-reveals-why-solana-sol-is-in-early-stages-of-bullish-breakout-targeting-1315/