Solana Forms Cup and Handle Pattern Amidst Market Volatility
Solana is trading around $151 after struggling to break the key $160 resistance. Bulls are gaining momentum, with a potential bullish rally ahead. However, global risks, notably the US-China trade conflict, affect market sentiment.
Key points include:
- Solana has increased by 58% since early April.
- Technical indicators suggest a cup and handle pattern forming, indicating possible bullish breakout.
- Reclaiming $160 is essential for further gains; failure could lead to a drop toward $120–$100 support levels.
- Recent volatility and geopolitical tensions pose risks to Solana's recovery.
Investors should monitor the $160 resistance closely as it will determine the near-term trend for Solana.
