- Solana confirms breakout from 4-year cup and handle pattern, targeting $2,700 based on structure depth.
- SOL trading volume hits $20.09B as ETF demand and institutional accumulation boost investor confidence.
- Resistance levels at $263, $787, and $1,314 stand before Solana’s projected 1,500% rally.
Solana (SOL) has confirmed a bullish breakout after forming a large cup and handle pattern stretching from mid-2021 to mid-2025. At the time of writing, SOL was trading at $177.35, reflecting a 6.3% daily gain. The breakout suggests further upside, backed by growing trading volume and renewed market strength.
Technical Structure Suggests Uptrend Continuation
According to analysis prepared by GalaxyBTC, Solana completed a large cup and handle formation, a pattern often seen before upward price continuation. The rounded cup structure followed by a smaller handle formation signals bullish momentum.
The breakout occurred around $171, with price now climbing toward higher resistance levels. The neckline resistance at $263.29 has been tested multiple times. If this level is cleared, analysts are pointing to higher Fibonacci targets, including $787 and $1,314.
A projection based on the measured depth of the cup places a long-term target near $2,700. Analyst Ali Martinez referred to this as a potential “1,500% rally” in a recent X post.
ETF Interest and Accumulation Strengthen Market Outlook
Investor confidence is also supported by growing interest in Solana-based ETFs. The recently launched Rex Shares SOL staking ETF recorded $42 million in value, surpassing other products like the XRP futures ETF. Polymarket data shows a 99% chance of a spot SOL ETF approval before the end of 2025.
Institutional accumulation has also increased. DeFi Development Corp recently bought over 153,000 SOL, becoming one of the largest holders. At the same time, regulatory developments such as the GENIUS Act could further support Solana adoption.
Trading volume reached $20.09 billion over the last 24 hours, while Solana’s market cap rose to $95.41 billion. The current structure, along with ecosystem developments, positions SOL for continued growth within the bullish pattern setup.
