Solana Price Breaks Cup-And-Handle Pattern, Eyes $500 Target

Solana's price has broken through a key resistance level, according to analyst Javon Marks. The token has traded at $104.98, up 5.31% in 24 hours with a market cap of $61.44 billion.

Marks identified the breakout as a cup-and-handle pattern, which suggests that buyers are regaining control after weeks of consolidation. He noted that traders should now watch whether Solana can turn the old resistance level into new support.

The breakout has led to speculation about Solana reaching $500, although this would require sustained buying and strong volume. Analyst Curb also sees long-term potential for Solana, predicting it could reach $1,000 or higher due to its growing ecosystem and increasing use of tokenized assets and payments.