Mr Arham
08/11 05:18
Solana Price Prediction: Will SOL’s 11.9% Weekly M
Solana Price Prediction: Will SOL’s 11.9% Weekly Momentum Carry It Towards All-Time Highs?
Solana (SOL) has climbed 11.9% over the past week, reclaiming the $180 zone and signaling renewed bullish momentum. The rally comes as the DeFi-focused blockchain breaks out of key technical structures, raising the question of whether buyers have the strength to push SOL back toward its all-time high near $260 — and potentially beyond.
A bullish “cup and handle” pattern, identified by crypto analyst Ali Martinez on August 9, now projects a potential move to $1,315 — a 630% surge from current levels.
This pattern began forming following SOL’s abrupt descent from its 2021 peak, bottoming at $8 in late 2022. Over the next year, prices steadily recovered, completing the rounded “cup” structure by mid-2024. The “handle,” a descending channel below $200, acted as consolidation before this week’s breakout.
If Solana reaches the $1,315 target, its market cap could approach $710 billion, potentially overtaking Ethereum as the second-largest cryptocurrency should ETH see limited growth. The major resistance levels on the way up include $380, $752, and $1,048.
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