- Solana confirms multi-year cup and handle breakout, targeting $1,315 based on technical analysis.
- Whale accumulation exceeds 164,000 SOL, signaling strong long-term confidence in the asset.
- Upcoming network upgrade aims to boost Solana’s capacity by 66%, supporting scalability and adoption.
Solana (SOL) is gaining attention after breaking out of a textbook cup and handle pattern, pointing to a potential price target of $1,315. The formation has developed over a multi-year period, and analysts view the breakout as a key technical shift. At the time of writing, SOL was trading at $186.
Breakout Above Long-Term Pattern Signals Bullish Structure
According to analysis prepared by Ali Martinez, SOL has broken out of a textbook cup and handle pattern on the weekly timeframe. The “cup” formed between late 2022 and mid-2024, with a low near $8 and a neckline between $195 and $255. This level previously acted as strong resistance.
The “handle” took shape as a downward-sloping channel in the first half of 2025, with SOL dipping to around $105. In mid-July, price action broke above the channel as volume surged, confirming the breakout setup. Martinez notes that based on the depth of the cup, the measured target for this breakout stands at $1,315, aligning with the 1.414 Fibonacci extension.
Momentum indicators support the move. The RSI has moved back to neutral territory after dropping from earlier highs, while price remains above key moving averages. The breakout also aligns with broader strength in the Solana ecosystem.
Whale Activity and Upgrades Support Bullish Outlook
According to data from Lookonchain, a whale wallet withdrew 76,000 SOL, worth roughly $14.5 million, from Kraken on July 24. This brings total withdrawals since July 8 to 164,000 SOL, indicating strong accumulation by large holders.
These moves often suggest long-term positioning rather than short-term trades. Solana is also undergoing network upgrades. As outlined in Solana Improvement Document 0286, the platform plans to increase block capacity from 60 million to 100 million Compute Units.
Such transformation will increase the throughput in transactions, and minimize congestion which can provide a long term network usage. At the time of writing, SOL was trading near $186, slightly below resistance at $201.70. If price holds above the $195–$255 zone, technical targets point to higher levels, starting with $1,315.
