Solana News Today: Solana Traders Weigh Bullish Cup Pattern Against Bearish Breakdown

Solana (SOL) is currently navigating a pivotal moment in its price trajectory, as traders and analysts closely monitor conflicting technical signals. The asset has stabilized near $164 following a recent 5.57% drop to $162.63, creating a standoff between bullish and bearish indicators [1]. Analyst Ted Pillows highlights a potential long-term “cup and handle” pattern forming on higher timeframes, suggesting that the bullish structure remains intact [1]. According to Ted, the cryptocurrency’s journey has spanned a four-year cycle, rising from $40 in 2021 to nearly $1,000 in early 2025, followed by a sharp correction. He forecasts a potential pullback to the $140–$150 range before a significant reversal takes hold [1].

On the other hand, Kamran Asghar, another analyst, warns of a short-term bearish breakdown. His analysis, based on daily and 4-hour timeframes, points to a recent breakdown from a critical support range of $150–$155. This development followed a descending triangle pattern that emerged after Solana reached $210 in mid-July. Kamran notes that a retest of the $164 level has failed, reinforcing the bearish outlook [1]. A descending trendline has now transformed into dynamic resistance, curbing bullish momentum. He adds that algorithmic selling could worsen if the price drops below the next key support level, prompting traders to prepare for further downward pressure [1].

Despite these bearish signals, Solana’s underlying network strength and historical price patterns continue to offer long-term optimism. Ted emphasizes that the broader bullish narrative is still in play, particularly with the cup-and-handle pattern visible on macro charts. Additionally, the $150–$200 range has consistently acted as a consolidation zone, drawing buyers back into the market [1]. This suggests that while short-term risks are present, the asset’s fundamentals and historical behavior support the possibility of a 2025 recovery.

The current price standoff reflects the broader uncertainty in the crypto market, where short-term volatility clashes with long-term potential. Traders are closely watching how the price action resolves this tension, as Solana’s next major move could define its trajectory for the remainder of 2025 [1].

Source: [1] Solana Teeters Between Bullish Cup Pattern and Bearish Breakdown (https://cryptofrontnews.com/solana-teeters-between-bullish-cup-pattern-and-bearish-breakdown/)