Solana’s native token SOL is exhibiting strong technical and fundamental signals for potential price appreciation, driven by the appearance of a bullish cup-and-handle chart formation alongside robust network growth. Technical analysis indicates SOL could initiate significant upward momentum if it breaks through the $250 resistance level.
Analysts forecast ambitious price targets between $4,800 and $6,300 based on the cup-and-handle pattern, which historically demonstrates a 61% success rate in predictive scenarios. This technical outlook coincides with remarkable ecosystem expansion, as Solana’s daily active addresses recently increased by 9%.
The blockchain’s total value locked (TVL) has surged 63% over a 15-week period to $10.3 billion, catapulting Solana to become the second-largest blockchain by TVL with a 6.28% market share. The strengthened fundamentals combined with technical patterns reinforce optimistic projections for SOL’s market trajectory.