Solana’s Price Set for Potential Surge to $190 Amid Positive Market Signals
- Solana (SOL) has formed a cup and handle pattern, targeting a breakout around $180 to $190.
- SOL has reclaimed its 50-day moving average for the first time since September, indicating a potential trend reversal.
- US spot ETFs recorded $10.7 million in net inflows recently, with year-to-date inflows rising from $1.02 billion to $1.14 billion.
- Cumulative long liquidations exceed $1 billion at a downside move toward $130, highlighting market vulnerability.
- Resistance at $145 has capped SOL rallies four times in three months, increasing breakout likelihood.
The formation of a bullish cup and handle pattern suggests that Solana may be poised for significant price movement if it breaks above key resistance levels, supported by steady ETF inflows and improved market sentiment.
A confirmed breakout could propel SOL towards its target near $180, representing approximately a 25% upside from current levels (Source).
