Bitcoin and Solana Price Targets Set Based on Cup and Handle Pattern Breakouts
BTC Price Target:
A new analysis posits that Bitcoin (BTC) could surge past $230,000 should a classic cup and handle chart pattern establish a successful breakout. Additionally, the same analyst sets a parallel target for Solana (SOL) at $4,390.
Solana “Waiting” for Breakout with $4,390 Target
Though Bitcoin has spent seven weeks in a relatively narrow trading range, the anticipation surrounding its next price move continues to intensify. According to analyst Trader Alan, the resolution of a cup and handle pattern formation holds significant keys. Progress, he suggests, aligns with prevailing bullish hopes.
Alan commented to his followers on X, noting, “Bitcoin and Solana Cup and Handle Pattern on monthly chart” and suggesting “SOL/USD is currently attempting to copy BTC.”
A cup-and-handle pattern signifies a bullish accumulation phase following a prior price rise. A price return to previous highs, consolidation, and a subsequent continuation upward are characteristic features, often leading to potent momentum. Cointelegraph had previously highlighted that BTC completed a long-term cup and handle structure from its 2021 peak to the 2022 low and subsequent recovery above $100,000.
The “Related: Bitcoin price can hit $150K in weeks thanks to Trump’s ‘Big Beautiful Bill’” link, while not verified, points to ongoing narratives drawing geopolitical factors into BTC short-term expectations.
“This pattern sets $BTC and $SOL to targets of $230,000 and $4,390 respectively.”
Current SOL trading fetches approximately $150, with its January 2025 all-time high briefly touching $294, according to data from sources like Cointelegraph Markets Pro and TradingView.
Altcoin Season Hindered by Bitcoin Dominance
Despite the BTC target representing a modest ~15% incremental upside from its recent peaks, the segment-to-segment comparison highlights Solana’s potentially aggressive trajectory.
The analysis cautions that a parabolic rise for SOL faces substantial obstacles. Persistent Bitcoin dominance, now elevated at around 65% of the overall crypto market capitalization (its highest level since early 2021 according to Cointelegraph data), keeps market apportionment avenues for other tokens constrained.
Prompting concern, Cointelegraph previously observed that Bitcoin dominance crossing the traditionally pivotal 70% threshold has historically preceded altcoin strength. However, prominent analyst Rekt Capital asserted earlier that the conventional cycle definition requires hitting the 70% level for altseason to definitively commence.
