Solana (SOL) Price Prediction: Establishing a Classic Bullish Pattern, in a Strong Rebound Process of Breaking Through the "Cup and Handle" Formation

In the past 30 days, Solana (SOL) has surged by 34%, reaching $193 on Monday, a five-month high. Although it is still about 35% away from the all-time high of $295, many analysts believe that SOL coin is approaching a breakout point and entering a new price discovery phase.

(Source: Trading View)

After SOL breaks the bullish pattern, the target aims for a high price of $6,000

Since hitting a cycle low of around $10 in November 2022, SOL has surged over 2400%, marking an impressive recovery journey. During this period, SOL has quietly formed a "cup and handle" pattern across multiple time frames—this signal often indicates a sustained price increase.

Analyst Robert Mercer recently shared a technical chart showing that SOL is in the process of breaking out of the "cup and handle" pattern. If it breaks through the key resistance level, a strong rebound may occur.

Analyst Mister Crypto commented: "A complete cup and handle pattern is forming on the SOL chart," and expressed an optimistic outlook: "In the current environment, I tend to be bullish."

(Source: Trading View)

At the same time, well-known trader Tardigrade in the technical analysis community believes that this pattern has appeared on the two-month chart of SOL over the past four years. According to him, the long-term price target for this pattern could be as high as $4,800.

"The cup and handle breakout is just a matter of time," said the slow-moving animal.

On the monthly chart, SOL has broken through the $155 "cup and handle" — this is a key technical signal. When the price breaks through the $250 neckline, the "cup and handle" pattern will be officially completed. If this happens, the subsequent rebound could extend the entire height from the bottom of the cup to the neckline.

(Source: Trading View)

If the model fully realizes its potential, the target price of SOL for 2025-2026 could reach an impressive $6,300, representing an increase of over 3,000% from current levels.

However, investors should also remain cautious. According to the statistics of technical analyst Thomas Bulkowski, only about 61% of cup and handle patterns can actually reach their full target price. This indicates that while the potential for upside is significant, risks always remain.

High network activity supports the price momentum of SOL

As the Solana ecosystem continues to demonstrate strong vitality, impressive on-chain metrics have strengthened expectations for a parabolic rebound of SOL in the coming weeks.

In just the past 24 hours, the number of daily active addresses has increased by 9%, reflecting a growing user community. At the same time, according to data from Nansen, the daily transaction volume has also returned to a parabolic trajectory since the beginning of 2024.

According to statistics from DefiLlama, the total locked value (TVL) on the Solana network reached a six-month high of $10.3 billion on Monday, up from $6.1 billion on April 8, achieving an astonishing growth of over 63% in just 15 weeks.