Key points:

• Bitcoin and Solana can reach parabolic new highs if both crypto tokens successfully complete a cup and handle pattern, according to analysis.

• BTC price and SOL price targets are $230,000 and $4,390, respectively.

• SOL/USD would need to deliver gains of nearly 3,000% to hit the breakout top level.

Bitcoin (BTC) can reach $230,000 if a classic breakout move completes successfully, a new prediction states.

In his latest analysis, the popular X content creator, Trader Alan, delivered a giant $4,390 Solana (SOL) price target.

Solana “waiting” for breakout with $4,390 target

Bitcoin has spent seven weeks acting within a narrow range, but as time goes on, anticipation is growing as to where BTC price action will head next.

For Trader Alan, a familiar chart pattern holds the key — and so far, progress is exactly what bulls are hoping for.

“Bitcoin and Solana Cup and Handle Pattern on monthly chart,” he told X followers, adding that SOL/USD is currently attempting to copy BTC.

A cup-and-handle pattern is a well-known bullish setup in which price returns to a previous high, consolidates and then continues higher, often with explosive results.

As Cointelegraph reported, BTC/USD has already completed a long-term cup and handle, from its 2021 peak to 2022 low and back up, followed by its first trip to the $100,000 mark.

“$BTC has broken out the handle while $SOL is still waiting for the breakout,” Alan claims about the latest iterations of the pattern, which in Bitcoin’s case extends the breakout beyond the 2021 high.

“This pattern sets $BTC and $SOL to targets of $230,000 and $4,390 respectively.”

Bitcoin dominance keeps altcoins in check

While the BTC/USD target still represents 115% gains, it is comparatively modest when viewed next to Solana’s roadmap, which calls for upside of nearly 3,000%.

Related: Bitcoin price can hit $150K in weeks thanks to Trump’s ‘Big Beautiful Bill’

SOL/USD currently trades at around $150, while the pair’s all-time high from January 2025 is $294, per data from Cointelegraph Markets Pro and TradingView.

In the absence of “altseason,” however, such a parabolic move faces significant hurdles. Bitcoin’s dominance of the overall crypto market cap continues to grow, passing 65% to reach its highest levels since early 2021.

However, as Cointelegraph noted, BTC dominance hitting 70% has historically coincided with the start of altcoin strength.

Earlier, popular trader and analyst Rekt Capital added that this cycle may not need a tag of the 70% zone for altseason to begin.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.