- Solana’s breakout targets $1,315, with $1,200 possible by Q4 2025 if trend sustains.
- Key support at $136 and $74; resistance levels at $184 and $295 guide near-term moves.
- Technicals show SOL above major SMAs with RSI at 57.12, leaving room for further gains.
Solana has broken out of a classic cup and handle formation on the weekly chart, which formed between 2022 and 2025. The pattern suggests a possible rally toward $1,315 if momentum continues. At the time of writing, Solana was trading at $180, according to market data.
Breakout Formation and Price Targets
Solana completed a cup phase from 2022 to 2024, followed by a handle consolidation in 2025, according to an analysis prepared by Ali Martinez. The breakout occurred near $136, which served as previous resistance. Price has since advanced to $179.97, representing an 11.15% daily gain.
Fibonacci retracement levels are marked at $74.37, $136.16, and $295.11. Martinez noted that the breakout surpassed a descending trendline, indicating continuation toward the $295.11 resistance.
Above this point, projections extend to $787.43 and $1,314.41. The measured move projection from the breakout aligns with the 1.0 Fibonacci extension. Traders are watching $1,200 as a possible target by Q4 2025 if the uptrend holds.
Support Levels and Market Conditions
According to observation by market analysts, the breakout has established $136 as the key retest support. Another strong support zone lies at $74, marked by the 0.618 Fibonacci retracement. Solana continues to move within an ascending channel on the weekly logarithmic chart, with the channel’s midline acting as dynamic support.
CoinGlass data recorded a $15.18 million inflow to exchanges on August 9. Large inflows during bullish phases can suggest profit-taking, yet SOL held above key support at $174. A major resistance was recorded near $184, which was tested during the recent rally.
Technical indicators show Solana trading above all major moving averages. The 7-day SMA is at $173.59 and the 200-day SMA at $159.78. RSI remains at 57.12, indicating room for further gains. Kamran Asghar commented that SOL is a currency capable of lasting a long time. He added that its runs can support portfolio growth during bullish market phases.
