Solana's Bullish Momentum: Is a Breakout to New Highs Imminent?

Solana (SOL) is forming a bullish cup and handle pattern on its weekly chart, indicating a potential breakout through a critical supply zone. With strong technical indicators like a high RSI and MACD, along with increased social dominance and open interest, SOL is poised for a significant upward rally if it can surpass this resistance. The market shows strong bullish sentiment, as evidenced by substantial long liquidations and increased capital in futures contracts, suggesting a sustained price rally may be imminent.