All articles tagged with #cup and handle pattern
Technical analysis suggests Bitcoin could reach $230,000 and Solana $4,390 following cup and handle breakout patterns, with recent developments like the Solana Spot ETF potentially fueling a rally, though current weekly charts indicate a bearish trend with signs of waning momentum.
The Solana price is showing resilience above $80 amid a relief rally in the cryptocurrency market, with a 23% increase in a week to reach $97.3. The price reversal from the 38.2% Fibonacci retracement level and the potential "Cup and Handle" pattern on the chart suggest a significant trend reversal, with a breakout above $126 potentially leading to a target around $256. Factors such as the rising 100 and 200-day EMA and a potential bullish crossover in the Directional Moving Index indicate a sustained buying interest that could drive a substantial recovery for Solana.