Solana (SOL) is currently showing signs of a classic cup and handle pattern as it trades just under the $150 mark. After getting rejected near the $153 resistance level, the asset entered a correction phase. However, with strong network activity and technical setups, a short-term reversal appears possible.
Technical Indicators Show Recovery Signs Amid Correction
According to analysis prepared by GemXbt via X, SOL remains in a bearish structure but shows recovery as it approaches the $147.48 level. The Relative Strength Index (RSI) is entering oversold territory, which may indicate a reversal
Source: GemXbt(X)
The MACD is also showing signs of convergence, pointing to a possible bullish crossover. Key support lies near $145, while the 20-day moving average presents immediate resistance. If the price breaks past this zone with volume, it may retest the $153 mark
The broader pattern is consistent with a cup and handle formation, often associated with continuation to the upside once confirmed. According to Curb Sol, there is a “high likelihood that was the bottom on $SOL,” noting RSI reset and hidden bullish divergence on 1D and 3D charts.
Network Activity and NFT Demand Continue to Grow
Solana's network has experienced a rise in trading activity, particularly within the NFT sector. A 181% increase in 24-hour volume and an 80% increase in sales following the launch of the Trump meme coin NFTs. The rare “Diamond Hands” NFT sold for 99.9 SOL, reflecting growing engagement on the platform.
DefiLlama data shows Solana's total value locked (TVL) has surpassed $8 billion, supported by increased decentralized exchange (DEX) volumes and app usage. According to Blockworks Research, Solana led all layer-one networks in monthly app revenue, generating $214 million in May 2025.
SOL is currently trading at $148.96. If support between $140 and $145 holds, a reversal to test higher resistance levels such as $160 and $215 may follow.
The post Solana Forms Classic Cup and Handle Pattern as RSI and MACD Hint at Bullish Reversal appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Solana Forms Classic Cup and Handle Pattern as RSI and MACD Hint at Bullish Reversal
SOL forms a cup and handle pattern with RSI and MACD signaling a potential bullish reversal.
Support at $145 remains critical as Solana eyes retests of $153, $160, and $215 resistance zones.
Solana's TVL tops $8B while NFT volume surges 181%, reinforcing strong network engagement.
Solana (SOL) is currently showing signs of a classic cup and handle pattern as it trades just under the $150 mark. After getting rejected near the $153 resistance level, the asset entered a correction phase. However, with strong network activity and technical setups, a short-term reversal appears possible.
Technical Indicators Show Recovery Signs Amid Correction
According to analysis prepared by GemXbt via X, SOL remains in a bearish structure but shows recovery as it approaches the $147.48 level. The Relative Strength Index (RSI) is entering oversold territory, which may indicate a reversal
Source: GemXbt(X)
The MACD is also showing signs of convergence, pointing to a possible bullish crossover. Key support lies near $145, while the 20-day moving average presents immediate resistance. If the price breaks past this zone with volume, it may retest the $153 mark
The broader pattern is consistent with a cup and handle formation, often associated with continuation to the upside once confirmed. According to Curb Sol, there is a “high likelihood that was the bottom on $SOL,” noting RSI reset and hidden bullish divergence on 1D and 3D charts.
Network Activity and NFT Demand Continue to Grow
Solana's network has experienced a rise in trading activity, particularly within the NFT sector. A 181% increase in 24-hour volume and an 80% increase in sales following the launch of the Trump meme coin NFTs. The rare “Diamond Hands” NFT sold for 99.9 SOL, reflecting growing engagement on the platform.
DefiLlama data shows Solana's total value locked (TVL) has surpassed $8 billion, supported by increased decentralized exchange (DEX) volumes and app usage. According to Blockworks Research, Solana led all layer-one networks in monthly app revenue, generating $214 million in May 2025.
SOL is currently trading at $148.96. If support between $140 and $145 holds, a reversal to test higher resistance levels such as $160 and $215 may follow.
The post Solana Forms Classic Cup and Handle Pattern as RSI and MACD Hint at Bullish Reversal appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.