🍵 Solana’s Price Pattern: A Teacup Full of $$$? 🚀

by

In a universe where charts are more reliably predictable than the weather on a Thursday afternoon, Ali, the crypto soothsayer, has divined that Solana, the sixth wonder of the cryptocurrency world, is morphing into a shape as classic as the British teatime: the cup-and-handle. Imagine a teacup with a bottom so round you could set your watch by it, and a handle that’s just asking to be picked up and shaken for loose change. 🍵✨

Ali’s cryptic tweet was accompanied by a visual aid—a screenshot of the SOLUSD weekly chart—that could have been mistaken for a modern art piece if it weren’t for the financial implications. There it was, a “cup” with a bottom as round as a sumo wrestler, and a “handle” that looked like it was waving goodbye to low prices.

#Solana $SOL is shaping up into a textbook cup-and-handle pattern! If confirmed, this setup could propel it toward $3,800. 🚀👀

— Ali (@ali_charts) March 14, 2025

Ali, with the enthusiasm of a cat that’s just spotted a laser pointer, added that if this pattern is confirmed, Solana could soar to the skies, aiming for the stratospheric target of $3,800. At its current price of $125, this would be a leap so great that even the most ambitious of frogs would be envious. Of course, in the short term, this might seem as likely as a Vogon constructor fleet deciding to hold a tea party, but in the medium to long term, optimism is as abundant as tea in the galaxy.

In a move that would make any stockbroker’s heart sink faster than a lead balloon, Solana prices took a dive last Monday, hitting $112 after a five-day freefall that would make even the most seasoned skydiver queasy.

As of now, Solana is trading at the princely sum of $125, down a mere 1.39% in the last 24 hours. It’s a far cry from its all-time high, which was as distant a memory as the last time someone successfully explained the rules of cricket. Yet, in the grand tradition of crypto slumps, Solana has been the blockchain of choice for meme coin creators, who have been hit harder than a piñata at a children’s party.

Solana’s Short-Term Outlook: Crystal Ball or Crystal Clear?

While the cup and handle pattern suggests a future so bright you’ll need sunglasses, a recent squiggle on Solana’s daily chart has traders as nervous as a cat in a room full of rocking chairs. Enter the “death cross,” a term that sounds like the title of a particularly bleak fantasy novel but is actually a technical indicator that’s about as cheerful as a tax audit.

On March 12, Solana’s price did the fandango with the “death cross,” which is as ominous as it sounds. If the bulls can’t hold the line at the $125-$110 support level, Solana might be taking a trip south, and not to the sunny beaches of Spain. However, if it can hold its ground, a reversal might be on the cards, and not the kind that requires a membership to a secret society.

In a rare glimmer of sunshine, CME is preparing to launch SOL futures contracts on March 17, which will be as momentous as the first time someone decided to put cheese on a pizza. This move will bring regulated Solana futures to the U.S. market, hot on the heels of Coinbase’s February launch. 🌟📈

Read More

2025-03-14 14:30