Alright team, let's break down this juicy SOL chart and see what's cooking. This long-term weekly view paints an incredibly bullish picture for Solana.
We are witnessing the confirmation of a colossal Cup & Handle pattern on the 1W timeframe—a highly reliable long-term bullish indicator. The 'Handle' formation is currently testing the crucial rising support trendline. Key long-term support sits firmly around $94.85. As long as SOL maintains momentum above the primary support channel, the breakout continuation is highly probable.
On the fundamental side, Solana's ecosystem is firing on all cylinders. Network activity remains robust, driven by booming DeFi and strong user engagement. Ongoing efforts to deploy the Firedancer validator client promise massive improvements in network speed and stability, which further solidifies SOL's status as a leading platform for high-throughput applications. Institutional sentiment is also heating up, anticipating new investment products.
The technical target derived from this pattern is ambitious but achievable: $1000. I recommend accumulating SOL in this consolidation range (the Handle) for long-term exposure to this massive potential move.
Highly recommend HOLD and Stacking SOL at Binance
https://www.binance.com/join?ref=16799922