- Bitcoin could reach $230,000 based on a completed cup-and-handle pattern that shows 115% potential gains.
- Solana targets $4,390 but is still awaiting its breakout move and facing challenges from Bitcoin’s growing market dominance.
- Both cryptocurrencies show bullish technical patterns, yet altcoins must reduce Bitcoin’s dominance for major price rallies.
Popular cryptocurrency analyst Trader Alan has identified significant price targets for Bitcoin and Solana based on cup-and-handle chart patterns. Bitcoin could reach $230,000, while Solana targets $4,390 if these technical formations complete successfully.
Bitcoin Completes Cup-and-Handle Formation
Bitcoin has traded within a narrow range for seven weeks, building anticipation among traders. The leading cryptocurrency has already formed a complete cup-and-handle pattern on monthly charts, from its 2021 peak to the 2022 bear market low to current levels.
The pattern shows Bitcoin breaking out of the handle formation after reaching the $100,000 milestone. This technical setup suggests the cryptocurrency could climb to $230,000, representing potential gains of 115% from current levels around $109,146.
Bitcoin’s dominance over the total cryptocurrency market capitalization continues expanding, surpassing 65% to reach levels not seen since early 2021. This metric typically influences altcoin performance across the broader market.
Solana Positions for Explosive Growth
Solana trades at approximately $151.87 and remains within its cup-and-handle pattern formation. According to Alan’s analysis, the altcoin has not yet completed the breakout phase that Bitcoin achieved.
The technical pattern suggests Solana could surge to $4,390, marking potential upside of nearly 3,000% from current prices. This target significantly exceeds Bitcoin’s projected percentage gains, reflecting the higher volatility typical of alternative cryptocurrencies.
Solana’s all-time high reached $294 in January 2025, meaning the projected target would represent a new milestone for the blockchain platform. The cryptocurrency has gained attention for its fast transaction speeds and lower fees than Ethereum.
Market Dynamics and Altcoin Prospects
Historical data indicates that Bitcoin dominance reaching 70% often coincides with the beginning of altcoin strength periods. However, analyst Rekt Capital suggests this cycle may not require such extreme dominance levels for altseason to commence.
The absence of a strong altcoin rally presents challenges for Solana’s ambitious price target. Alternative cryptocurrencies typically require reduced Bitcoin dominance to achieve significant gains relative to the market leader.
Current market conditions show Bitcoin maintaining its position as the dominant cryptocurrency while altcoins await favorable conditions for breakout moves. Technical patterns suggest potential for substantial gains across both Bitcoin and Solana if chart formations complete as projected.
Disclaimer
The content shared on KryptoVaultDaily is for informational purposes only and does not constitute financial or trading advice. We do not offer guarantees and assume no responsibility for investment decisions based on the material provided. Always research and seek guidance from a licensed financial advisor before trading cryptocurrency or investing.
