Solana is testing short-term support near $75 after retreating from recent highs, while analysts identify a potential multiyear cup-and-handle pattern that could influence long-term price action. Analyst CryptoCurb noted the formation between Solana's 2021 peak and its recovery into 2024, projecting a possible move above $1,000 if SOL completes a confirmed breakout, though the target remains speculative. Meanwhile, analyst AnnieShr stated that holding the $75 support zone could support a recovery toward $79 to $80 before SOL attempts a breakout above $82. The technical analysis reflects conditional scenarios based on whether key support and resistance levels hold or break.
CryptoCurb Identifies Multiyear Cup-and-Handle Pattern on Solana Chart
Analyst CryptoCurb identified a potential multiyear cup-and-handle pattern on Solana's weekly chart, with the rounded cup positioned between Solana's 2021 peak and its recovery into 2024. Since then, price has moved inside a downward-sloping channel, which the analyst identifies as the handle portion of the formation.
SOL is trading near $74, close to the lower boundary of that channel. The analyst noted that holding the broader $64-$74 region would preserve the pattern and could provide a base for another attempt to recover.
A cup-and-handle setup is not confirmed until price breaks above the handle's upper resistance. Based on the chart, SOL would first need to reclaim the $120-$160 region before challenging stronger resistance near $200 and the previous highs around $250-$300.
CryptoCurb projected a possible move above $1,000 if SOL completes a confirmed breakout, though the target remains highly speculative while price continues trading inside the pattern's descending handle. A sustained breakout above the $250-$300 levels could support a long-term price expansion, although the move toward $1,000 would require substantial growth and several intermediate breakouts.
A decisive breakdown below approximately $64 would weaken the structure and raise the risk that the handle develops into a broader continuation of Solana's downtrend.
AnnieShr Notes $75 Support Zone as Key Level for SOL Recovery
Solana is testing a key support zone near $75 after retreating from recent highs. Analyst AnnieShr stated that a successful defense of the area could support a recovery toward $79 to $80 before SOL attempts a larger breakout above $82.
The chart shows Solana returning to the same region that previously acted as resistance before its late-June rally. Holding this level could confirm that buyers are turning the former breakout area into support.
The first major obstacle sits near $79 to $80, where price has faced repeated rejection. A confirmed four-hour close above that range could restore bullish momentum and open the path toward $82 and the previous high near $84.
SOL remains vulnerable while trading below resistance. A decisive break under $75 would weaken the reversal setup and could expose the lower support near $70. Further selling could bring the $66 to $63 region back into focus.
FAQ
What pattern did CryptoCurb identify on Solana's chart?
CryptoCurb identified a potential multiyear cup-and-handle pattern on Solana's weekly chart, with the rounded cup positioned between Solana's 2021 peak and its recovery into 2024. The analyst noted that price has since moved inside a downward-sloping channel, which represents the handle portion of the formation.
What support level is Solana currently testing?
Solana is testing a key support zone near $75. Analyst AnnieShr stated that holding this level could support a recovery toward $79 to $80 before SOL attempts a breakout above $82. A decisive break under $75 would weaken the reversal setup and could expose lower support near $70, with further selling potentially bringing the $66 to $63 region into focus.
