SOLUSDT has formed a Cup & Handle pattern on the weekly chart, and arguably already broke out of the handle.The measured move target based on the linear depth of the cup is ~$510.
Key Levels to Watch
• ~$100: Local low and 0.618 Fib of the cup depth, a typical handle retracement in a Cup & Handle pattern.
• $260: Cup & Handle neckline and key horizontal resistance. A decisive weekly close with strong volume above this level would confirm the pattern and activate the measured move target.
• $510: Measured move target based on the depth of the cup from the neckline.
Considerations
Volume confirmation remains key. A breakout above $260 with strong volume could validate the pattern and open the path to $510.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.