- Cup and handle pattern promised a 20x meeting for Solana if the price could break above $ 200
- Token emphasized the Bearish Momentum in recent months, where it may not be ready to go higher
Bitcoin [BTC]was reflected by Solana at the time of writing [SOL] At the higher time prize graphs.
In one Post on Xtechnical analyst Tardigrade trader It noted that both Bitcoin and Solana have formed cup and handling patterns in the monthly graphs. In fact, the first was eliminated a few months ago, while Sol in turn waited patiently.
With the help of the depth of the cup and the handle pattern, the breakout – predict. The analyst showed that Bitcoin could hit $ 230,000 in his outbreak, while Solana would focus on $ 4,390 once the outbreak has been reached. When can it reach its movement? Well, the Solana Spot ETF went live on July 2. Offered by Rex-Esprey, saw it $ 11.4 million In inflow on July 3.
This could stimulate Solana beyond the $ 200 mark, that is when the outbreak of the cup and the handle pattern were to begin.
The Solana hype season has not arrived yet!
Ambcrypto examined the number of active addresses and discovered that there was a huge peak in activities on the chain that started in October 2024 and lasted until December. This coincided with the extensive rally from $ 146 to $ 264 in November. During that time, Solana Memecoins also did extremely well.
Although it looked like a casino with very few winners, it had been a very populated casino. Or perhaps a gold rush, with traders who hurry to find and cash in the most recent trends. In any case, the active addresses have now fallen from the levels that were seen six months ago.
The number of large holders with more than 10k Sol increased rapidly in March and April 2024, when the price was $ 140.
This number has remained stable the majority of 2025 around 5.1k mark. Another increase in the number of large holders can be a sign of trust of major investors.
Source: SOL/USDT on TradingView
The weekly graph reflected a bearish structure. The higher layer at $ 175, set in December 2024, was broken in February and was again tested as a resistance during the May meeting. The RSI agreed with this bias, because it has remained under the neutral 50-mark since February. This suggested that the momentum was predominantly bearish.
In the past two months, the RSI floated around the 50-mark to suggest that Beerarish Momentum had been taken. However, the bulls were not strong enough to stimulate the price higher. This was reflected in the decreasing weekly trade volume since May – another sign of a market in a withdrawal phase.
If Sol can climb back above $ 190, the weekly structure would shift bullishs again.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer