Key TakeawaysA monthly cup and handle pattern is developing on SOL charts following its recovery from 2022 bear market lowsPrice action has been confined to a $78–$98 range since February, with $88 serving as a critical pivotTechnical analyst Ali Charts highlights that a daily close above $98 could target $107 followed by $117SOL successfully broke above a multi-year descending channel and is now consolidating between $92–$95Critical support zones sit at $92, $89, and $78 — a breakdown below $78 would compromise the bullish thesisSolana continues to maintain position above critical support zones as a significant monthly cup and handle formation takes shape. The technical setup remains favorable, though validation requires SOL to protect support levels and breach the $98 resistance threshold.Solana (SOL) PriceSince early February, SOL has oscillated within a defined channel featuring support at $78 and resistance at $98. Technical analyst Ali Charts mapped these boundaries, noting that $88 functions as the midpoint pivot.SOL attempted to challenge the $98 resistance level recently but faced swift rejection. Ali Charts observed that price has rebounded from lower levels, indicating potential for another attempt at the $98 ceiling.According to Ali Charts, a confirmed daily close beyond $98 would likely propel SOL toward an initial target of $107, followed by a secondary objective at $117. Should $98 maintain its role as resistance, expect potential retracement to $88 or a deeper correction toward $78.$98 is the level that could signal a bullish breakout for Solana.Since February, $SOL has been moving within a well-defined channel. I’ve identified the boundaries at $78 (Floor) and $98 (Ceiling), with $88 as the current pivot point.We recently tested that $98 resistance,… pic.twitter.com/E1ntBJZHZH— Ali Charts (@alicharts) May 14, 2026Large-Scale Cup and Handle Formation Takes ShapeOn the monthly timeframe, analyst Bitcoinsensus has identified an expansive cup and handle pattern. SOL declined from its 2021 peak, established a bottom throughout 2022 and 2023, then rallied back toward previous resistance zones.The handle portion is currently materializing as a sideways consolidation period. SOL is trading near the lower boundary of this handle, establishing this trendline as a crucial zone for bulls to maintain.This pattern remains unconfirmed at present. SOL must clear the upper handle trendline and penetrate broader resistance near 2021 highs before the formation becomes validated.Multi-Year Descending Channel ViolationAnalyst CryptoXLARG highlighted that SOL has escaped from a prolonged descending channel structure. Price currently consolidates within the $92–$95 zone as it establishes a foundation for potential trend continuation.$SOL has broken out of a long-term descending channel and is now consolidating around the $92–$95 range, signaling a potential trend reversal after a broader base formation.A sustained move above $95 is key. If confirmed, the next targets are $102.70 followed by $106.50 and… pic.twitter.com/6JyagUMOgF— 𝐂𝐫𝐲𝐩𝐭𝐨𝐗𝐋𝐀𝐑𝐆𝐄 (@CryptoXLARG) May 13, 2026A confirmed move beyond $95 would activate targets at $102.70, $106.50, and $118.26. Under favorable momentum conditions, CryptoXLARG projects macro-level targets extending to $143 and potentially $163.Analyst Bitcoin Meraklısı observed that SOL achieved its initial upside objective following an approximately 10% breakout rally before encountering seller pressure. A pullback toward $92 remains consistent with healthy price structure.$92 represents the nearest support foundation. Below that level, watch for $89 and $78 as subsequent zones. A breach below $78 would negate the current constructive technical framework.Analyst Moe highlighted that SOL has reclaimed territory above a long-term descending trendline dating back to the 2021 peak, indicating the broader downtrend structure has deteriorated. SOL maintains its position above this reclaimed trendline.The post Solana (SOL) Eyes Breakout: Critical $98 Resistance Level Could Unlock Major Rally appeared first on Blockonomi.