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✅ $SOL Trajectory to $5,000🥵🤑: A Technical Analysis 🔥⚡
🟣A prominent pattern has emerged in Solana's price movement, hinting at a potential surge to📈 $5,000.
⬜By examining the cryptocurrency's monthly price activity🔥, a cup and handle formation becomes apparent, spanning the 2022 bear market📈, 2023 consolidation, and 2024 bull run.
✅The cup section of this pattern developed between ⚡2022 and early 2024, when Solana initially broke above the resistance trendline📈.
🟣 The subsequent up-and-down movement around $200 throughout much of 2024 established ✅the handle pattern, culminating in a breakout to a new all-time high of $263 in November.
🟩According to the Fibonacci extension signal, the price objective🔥 from the 2022 bear market bottom of $9.96 is anticipated to be around $4,000, aligning✅ with the 2.00 Fib extension level.
🟣Understanding the Cup and Handle Pattern:
⬜This classic technical signal predicts bullish 📈market action, characterized by a rounded "cup" indicating consolidation and recovery, followed by a narrower "handle" signifying temporary✅ consolidation before a breakout. With a 61% success rate, the cup and handle pattern is the third most reliable bullish formation.
🔴Current Market Developments:
🟩Solana is currently trading at $215, reflecting a 3% and 16% increase 📈in the previous 24 hours and week, respectively.
🟪 This price surge coincides with a 16% rise in Solana trading volume🔥 over the past 24 hours.
⬜If Solana reaches $4,000, it would represent 📈an impressive 1,800% return.
⬜Stay Alert and share your thoughts also.
#SolanaUSTD #BinanceSquareFamily #BTC☀️
🟣A prominent pattern has emerged in Solana's price movement, hinting at a potential surge to📈 $5,000.
⬜By examining the cryptocurrency's monthly price activity🔥, a cup and handle formation becomes apparent, spanning the 2022 bear market📈, 2023 consolidation, and 2024 bull run.
✅The cup section of this pattern developed between ⚡2022 and early 2024, when Solana initially broke above the resistance trendline📈.
🟣 The subsequent up-and-down movement around $200 throughout much of 2024 established ✅the handle pattern, culminating in a breakout to a new all-time high of $263 in November.
🟩According to the Fibonacci extension signal, the price objective🔥 from the 2022 bear market bottom of $9.96 is anticipated to be around $4,000, aligning✅ with the 2.00 Fib extension level.
🟣Understanding the Cup and Handle Pattern:
⬜This classic technical signal predicts bullish 📈market action, characterized by a rounded "cup" indicating consolidation and recovery, followed by a narrower "handle" signifying temporary✅ consolidation before a breakout. With a 61% success rate, the cup and handle pattern is the third most reliable bullish formation.
🔴Current Market Developments:
🟩Solana is currently trading at $215, reflecting a 3% and 16% increase 📈in the previous 24 hours and week, respectively.
🟪 This price surge coincides with a 16% rise in Solana trading volume🔥 over the past 24 hours.
⬜If Solana reaches $4,000, it would represent 📈an impressive 1,800% return.
⬜Stay Alert and share your thoughts also.
#SolanaUSTD #BinanceSquareFamily #BTC☀️
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