Solana (SOL) has decisively broken out from a bullish cup and handle chart formation, signaling potential upward momentum toward the $1,315 price target. The breakout initiated near the $136 support level, with SOL subsequently climbing to $179.97 in recent trading – an 11.15% single-day gain.
Technical indicators reinforce this positive trajectory, with SOL trading above major Simple Moving Averages (SMAs) and displaying a Relative Strength Index (RSI) reading of 57.12. This positioning suggests sustainable growth potential without immediate overbought concerns, providing room for further appreciation.
Critical support zones are established at $136 and $74, while resistance levels emerge at $184 and $295. Fibonacci retracement analysis identifies key thresholds at $74.37 and $136.16, with extended upside projections targeting $787.43 and $1,314.41. Maintaining current momentum could see SOL approach the $1,200 level by late 2025.