- Solana forms a cup-and-handle with breakout potential toward $4,000.
- Stellar displays an inverse head-and-shoulders, targeting $0.39.
- Ethena breaks a falling wedge, eyeing a 118% surge to $0.75.
In a dramatic turn for the crypto market, leading altcoins Solana (SOL), Stellar (XLM), and Ethena (ENA) are making waves with explosive price action and strong technical breakouts, fueling renewed investor optimism. Each token has rallied by double digits in 24 hours based on prevailing high trading volumes and bullish chart patterns spotted by top analysts. With Solana opting for a textbook cup-and-handle, Stellar revealing an inverse head-and-shoulders, and Ethena punching out of a falling wedge, the door seems to be opening to potentially long, extended rallies in the altcoin sector.
Solana (SOL)
Solana (SOL) has seen a significant price rally, climbing 9.30% over the past 24 hours to reach $165.7 as of the latest update. The token’s market capitalization grew significantly to $86.64 billion, an 8.71% increase over the previous 24 hours and a 35.17% increase to $6.95 billion within 24 hours, suggesting increased investor interest. The amount of the circulating supply is 519.02 million SOL of a total of 600.35 million SOL, with no maximum supply defined. Actionable data reveals a very strong upwards momentum with SOL hitting slightly $170 before giving up a few points. This latest wave places Solana among the pioneers of the crypto space, impelled by bullish sentiments and momentum on the rise.
Source: CoinMarketCap
As per crypto analyst Ali, using the chart, it can be seen that there is a classic “cup-and-handle” pattern out on the weekly chart, which is a standard formation for a bullish move. After creating the rounded bottom across 2022 and 2023, SOL seems to be finishing off with the handle phase and is currently pressing up against the neckline resistance around the $195 point. Trading at around $154.90 at present, a decisive breakout above this resistance can trigger off a parabolic rally with technical projections indicating potential price targets as such as high as $4,000. If this positive forecast were to become a reality, it would signal an explosive extension of Solana’s long-term recovery and establish Solana’s place as one of the best-performing assets on the crypto market.
Source: X
Stellar (XLM)
Stellar (XLM) has soared 10.08% during the last 24h, hitting $0.298 in the wake of a huge blow-off in trading action volume, which rocketed by 200.62% to $409.09 million. The token’s market cap went up by almost 10% to $9.31 billion, as investor confidence also returned, buoyed by powerful upward momentum. The price action from XLM is a steady rise from $0.2729, high above $0.305, before a minor sell-off. With a total and max supply of 50 billion XLM and a circulating supply of 30.98 billion, Stellar is indicating a streaking bullish run, and it is looking like one of the big gainers during the current market rally.
Source: CoinMarketCap
According to prominent crypto analyst Ali, Stellar Lumens (XLM) is displaying a textbook inverse head-and-shoulders pattern on the 4-hour chart, signaling a potential bullish reversal. The shape, which is characterized by a clear left shoulder, deep head in April early and a rising right shoulder, indicates accelerating momentum to a breakout. Currently trading at $0.293, XLM is testing a key neckline resistance, and a confirmed breakout would send the asset towards the Fibonacci extension targets, with a potential for upside within $0.32—$0.39. This technical setup is a bullish story on Stellar, indicating a potential price explosion soon.
Source: X
Ethena (ENA)
Ethena (ENA) recorded a keen rise of 23.57% within 24 hours,Currently trading at 0.36 while trading volume experienced a spike up to 213.89% to $508.34 million. With a market cap of $2.15 billion, Ethena has witnessed a marked spike in investor interest that is reflected both in price momentum and a steady growth of TVL that has reached $4.69 billion. The rally of the token took it from approximately $0.30 to a high of over $0.38 before a gentle retracement. With a 15 billion total supply, out of which 5.82 billion ENA are in circulation and nearly 64,000 holders, Ethena is rapidly establishing itself as a stand-out performer in altcoins.
Source: CoinMarketCap
According to renowned crypto analyst Captain Faibik, Ethena (ENA) has successfully broken out of a prolonged falling wedge pattern on the daily chart a classic bullish reversal formation. After months of declining price action, the breakout above the wedge’s resistance line at approximately $0.34 signals a potential trend reversal, with bullish momentum already pushing the price to $0.3674, up 7.84% on the day. Faibik’s chart projects a target of $0.75, representing a 117.99% upside from the breakout point, as buyers re-enter the market with renewed conviction. This move could start a significant rally if follow-through volume sustains.
Source: X
