Solana (SOL) could rise by 2000 percent: The chart is ready to explode!

Can Solana ($SOL ), which is winking at the bull run with its technical structure, experience a 2000 percent increase?

Cryptocurrency analyst Peter Brandt stated that Solana (SOL) has formed a cup and handle formation on the weekly chart. The cup-handle pattern develops when the price undergoes a U-shaped recovery that resembles a cup, followed by a consolidation period that resembles a handle.

The handle usually signals a moment of indecision as investors gauge whether the uptrend will continue. This is how market psychology looks lately, with the price of $SOL consolidating in the $100-200 range since March 2024.

As a rule of technical analysis, the cup-handle formation usually resolves when the price breaks above the common neckline resistance (currently $205) and rises to the maximum distance between the cup's trough and the neckline.

The technical structure in question brings SOL's cup and handle target for 2025-2026 to approximately $4,500, an increase of more than 2,000 percent from the current level.

However, it is also important to consider the historical possibilities of the cup-handle formation. For example, a study conducted by experienced analyst Thomas Bulkowski, who examined 913 cup-handle charts on the stock market, found that 61 percent of charts with this structure reached their targets. In other words, the cup and handle do not always guarantee a full rise.

Tuna Kaya, known for his cryptocurrency analyses, attracted attention with his $SOL analysis on October 21. Tuna Kaya stated that the $163 resistance was finally overcome. According to the analyst, the $190-200 range can be targeted for SOL. The support zones can be followed as $163 - $150 and $140, respectively. The most critical support zone will be the $126 - $120 range.

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