Solana’s 5-Year Cup and Handle Coils for Potential 106% Run to Rim: Peter Brandt

Solana’s 5-year chart pattern approaches resolution as the asset coils for a 106% run to the rim, according to veteran Peter Brandt.

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Technical analyst Peter Brandt has published a weekly Solana (SOL/USD) chart, pointing to the final stage of compression in a rare macrostructure known as the “Cup and Handle” pattern.

According to the veteran trader, the current consolidation represents a “very significant long-term view of SOL.” The coin is currently trading at $116.29, showing potential for a local 106% surge toward the upper boundary of the pattern, which could serve as a springboard for a much larger macro breakout.

The chart presented by Brandt covers Solana’s five-year development cycle. The left side of the “cup” begins at the peak of the 2021 all-time high, after which the asset went through the deep bottom of the late-2022 crypto winter near $9. The recovery toward the 2024 highs completed the outline of the cup and transitioned into a two-year sideways trading range, forming the “handle” of the pattern.

The chart’s technical indicators confirm that the price is “coiling like a spring” within the final stage of capital accumulation:

According to the rules of technical analysis on a logarithmic scale, a local 106% move (from the current $116.29 to the historical resistance at $240) is only the first phase required to reach the rim of the cup.

The true potential of the pattern is revealed in the event of a clean breakout above this boundary. Historically, in traditional markets, particularly gold, the completion of similar multi-year consolidations has led to powerful bullish cycles comparable in magnitude to the full depth of the cup.

On Solana’s logarithmic chart, the distance from the bottom ($9) to the rim ($240) represents a roughly 26.6-fold increase. If the classic scenario plays out, projecting the same ratio upward from the breakout point technically opens the door to long-term SOL price targets in the thousands of dollars.

However, such large-scale structures are extremely rare on cryptocurrency charts, which is why traders approach them with increased caution.

Until the upper boundary is broken, the pattern remains purely potential. The market has two critical zones that will determine Solana’s trajectory over the coming years:

At present, large market participants are holding their positions within the established trading range, awaiting volume confirmation at key resistance levels.