Solana News Today: Solana Breaks Cup and Handle Pattern Eyes $200 Resistance Zone

Solana’s price has recently broken out of a well-structured cup and handle pattern, a classic technical setup often associated with continued bullish movement. The breakout occurred above the $179.97 level, signaling strengthening momentum and positioning the asset for a potential test of the $190–$200 resistance zone around August 10, 2025. Analysts suggest that if this level is successfully cleared, the next targets could be as high as $215 and $240, with the long-term objective sitting near the $295.11 cup rim [1].

The cup and handle pattern has been forming since late 2021, with the left side of the cup developing after a sharp decline from peak levels and a subsequent bottoming near $8.00 in late 2022. The recovery into 2024 completed the right side of the cup, pushing prices toward the $295.11 resistance. After this, Solana entered a consolidation phase forming the handle, with prices dipping to around $130 before reversing and breaking out of the descending channel [1].

Immediate price action following the breakout shows bullish confirmation, with Solana closing the week at $179.97, marking an 11.15% gain. This move has drawn attention from traders and analysts, who are now watching whether the $190–$200 range will hold as a psychological and technical barrier. If it does, it could lead to further price appreciation. Conversely, failure to break above this zone may result in profit-taking and a pullback toward the $170–$160 support range [1].

Technical indicators support the bullish bias. The RSI is currently at 59.78, above the 50.11 signal line, indicating rising buying pressure. The MACD line at 1.928 is ahead of its 1.626 signal line, with a positive histogram reading of 0.301, reinforcing the strengthening uptrend [1]. On-chain volume has also increased, reaching 202.71K USDT-equivalent, suggesting active participation in the market.

Analysts on social platforms and technical forums have emphasized the significance of this pattern, noting its potential to drive Solana’s price toward its measured move targets. If the pattern completes successfully, it could result in a price movement equal to the depth of the cup’s base, which in this case suggests a target near $200. Some projections even extend to $240 and $295, aligning with key Fibonacci extensions [1].

As the market approaches the anticipated test near $200, the focus will be on Solana’s ability to sustain above $189 without slipping back into consolidation. A confirmed breakout above this level could attract new capital flows and validate the pattern as a reliable technical setup. However, any failure to hold above this level may signal a retest of support and a potential return to bearish conditions.

Source:

[1] Solana’s Breakout from Cup and Handle Pattern Suggests Potential Resistance Tests Near $200

https://en.coinotag.com/solanas-breakout-from-cup-and-handle-pattern-suggests-potential-resistance-tests-near-200/