Solana Price Forecast: Can SOL’s 11.9% Weekly Increase Propel It to Previous Record Levels?

Solana (SOL) has increased by 11.9% in the last week, regaining the $180 level and indicating a resurgence in bullish activity. This surge occurs as the DeFi-oriented blockchain breaks through significant technical formations, raising the question of whether buyers possess the capability to drive SOL back toward its all-time high around $260 — and possibly even higher.
A bullish “cup and handle” formation, recognized by crypto analyst Ali Martinez on August 9, now suggests a potential rise to $1,315 — a 630% increase from current prices.

Solana $SOL targets $1,315 after breaking out of a textbook cup & handle pattern! pic.twitter.com/MmOcoNPwK2

— Ali (@ali_charts) August 9, 2025

This pattern began to take shape after SOL’s sudden drop from its 2021 peak, reaching a low of $8 in late 2022. Over the following year, prices gradually rebounded, forming the rounded “cup” structure by mid-2024. The “handle,” a descending channel beneath $200, served as a consolidation phase prior to this week’s breakout.

If Solana achieves the $1,315 target, its market capitalization could approach $710 billion, potentially surpassing Ethereum as the second-largest cryptocurrency if ETH experiences limited growth. The primary resistance levels on the ascent include $380, $752, and $1,048.

Cup and Handle Indicates Long-Term Potential

The cup and handle is a well-known bullish chart pattern in technical analysis. It signifies robust accumulation, a brief consolidation phase, and a continuation breakout.

For SOL:

• Cup depth: $8 low to $200 high
• Handle: Descending channel below $200
• Breakout trigger: Move above $200 on strong volume
• Targets: $380, $752, $1,048, and $1,315

Historically, such patterns can lead to prolonged rallies, but their success depends on sustained buying volume and broader market support.

Solana (SOL/USD) Technical Analysis and Trade Setup

On the 4-hour chart, the price outlook for Solana appears bearish. SOL encounters a significant downward trendline resistance at $186.22. The 50-period SMA at $169.71 has supported the rally from early August lows, with prices forming higher lows within an ascending structure.

Solana Price Chart – Source: Tradingview

• RSI: 62.5, indicating bullish momentum without reaching overbought levels
• MACD: Positive crossover above the zero line, although histogram growth is modest
• Candlestick behavior: Small-bodied bars with upper wicks at resistance — signs of profit-taking

Trade setup:

• Bullish scenario: A confirmed daily close above $186 could pave the way to $195.42 and $205.92, in line with Fibonacci extensions.
• Bearish scenario: A rejection at $186 may lead to pullbacks toward $177.40 or $167.00, with the 50-SMA providing bounce potential.
• Risk management: Stops below $177 for breakout longs, or above $187 for short rejections.

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