Solana is forming a cup-and-handle formation, showcasing a chance for a major value jump in the near future.
Breaking the $208.68 resistance could trigger a rally, taking it closer to its next Fibonacci price targets.
Analysts and traders are watching closely as Solana's technical patterns suggest the potential for remarkable growth this year.
SOL may be on the verge of a major rally, as technical analyst Ali predicts a rise to $4,000. The study is based on the emergence of a bullish cup-and-handle pattern on Solana's monthly chart, which signals potential upward momentum.
Source: Ali Charts
The coin is currently trading at $216.62, reflecting a monthly increase of 14.62%. The next difficulty level lies at $208.68, and surpassing this could trigger a powerful price breakout.
Critical Fibonacci Levels Indicate Strong Upside Potential
Ali’s analysis uses Fibonacci retracement and extension levels to outline key price zones for Solana’s projected rally. The $208.68 resistance matches the 1.0 Fibonacci level, which serves as an important threshold for upward movement. If broken, Solana’s price could target $477.34 at the 1.272 level and $1,367.50 at the 1.618 level.
Moreover, the chart suggests that Solana could climb to $3,800.88, corresponding to the 2.0 FIB. This increase represents a theoretical 1,861% gain from its current price. Traders are closely watching the coin's movement near $208.68 since breaking this resistance could confirm the start of the bullish breakout.
Fibonacci levels are widely used in technical analysis, and they provide traders with reliable price targets based on historical trends.
Mixed Reactions to $4,000 Prediction from the Crypto Community
The $4,000 price prediction has sparked a heated discussion within the token's space, as many traders remain divided on its feasibility. Ali’s post has garnered over 56,700 views on Twitter and prompted debates about Solana’s potential for such growth.
Critics argue that reaching $4,000 would require massive market capitalization, which seems unlikely in the current environment. However, supporters believe Solana’s expanding blockchain ecosystem and innovative technology could justify such an ambitious target.
Many traders are waiting for confirmation of a breakout before committing to investments, and the $208.68 resistance is seen as a key turning point. The crypto market remains volatile, and any major movement will likely influence community sentiment further.
What Lies Ahead for Solana?
Marketers are monitoring the token's performance to see if it can surpass specific resistance levels and maintain upward momentum. If the price breaks $208.68, it could confirm a bullish trend that propels Solana toward higher Fibonacci targets. Market factors and external developments will likely play a role in shaping the cryptocurrency's path in the coming months.
The post Solana Price May Soar to $4,000 with Bullish Chart Pattern Signal appeared first on Crypto News Land.
