Solana (SOL) Price Prediction: Cup-and-Handle Pattern Points to $300 Breakout Target
TLDR
Solana (SOL) broke above the $175 resistance level and is currently trading at $180.37 with strong weekly gains of 11.94%
A cup-and-handle pattern stretching back to 2021 shows a potential breakout target near $260 neckline resistance
Current focus is on the $185 resistance zone, with analysts projecting moves toward $219, $245, and potentially $300
Trading volume surged 13.55% to $6.56 billion in 24 hours while open interest climbed 1.43% to $10.04 billion
A whale facing $190 million in losses from shorting major cryptos could fuel additional upward pressure through forced covering
Solana price has gained momentum over the past week, climbing 11.94% and establishing a position above the crucial $175 resistance level. The token is currently trading at $180.37 with increased market activity.
Trading volume has jumped 13.55% to $6.56 billion in the past 24 hours. The project maintains a market capitalization of $97.29 billion, placing it among the top-performing digital assets this month.
According to crypto analyst WebTrend, the breakout above $175 has converted that level into solid support. The weekly chart shows a pattern of higher lows, indicating renewed buying momentum after months of correction from the late-2024 high near $300.
$SOL is next, free money.
Save this post. pic.twitter.com/Wkltp8VszJ
— WebTrend (@WebTrendCo) August 9, 2025
The current price structure points toward a potential target of $300. Intermediate resistance sits at $275, offering approximately 66% upside from current levels.
Maintaining support above $175 remains crucial for the bullish outlook. Secondary support lies at $160, which could help limit downside moves if the price retreats.
Cup-and-Handle Pattern Points to Macro Breakout
Analyst Chris has identified a multi-year cup-and-handle formation dating back to 2021. The pattern shows a neckline resistance just below the $260 zone, which has historically capped major rallies.
I don’t know how high $SOL can go this cycle, but this is the HTF setup we have right now, so interpret this as you will. pic.twitter.com/22E53YP0m0
— Chris (@StonkChris) August 9, 2025
Solana is currently moving within the handle formation, gradually approaching this key breakout level. The steady structure suggests buyers have been regaining control over the price action.
A decisive move above the neckline on strong volume could trigger a larger rally. The pattern symmetry and clear structure support a constructive price outlook.
The $185 resistance level has become the immediate focus for traders. This area has historically acted as a decisive breakout zone, with current positioning suggesting short positions may be clustered above this level.
A clean break through $185 could trigger a short squeeze, forcing sellers to buy back at higher prices. This dynamic could add momentum to any upward move.
Solana Price Prediction
Analyst Jack projects the next upside target near $256, representing roughly 40% gains from current levels. This target sits just under the higher timeframe neckline resistance around $260.
Jesse Peralta has outlined Fibonacci-based projections with the 61.8% retracement level at $219 acting as the next checkpoint. A move through this zone could set up a push toward the 75% retracement level at $245.
These technical levels align with the broader cup-and-handle breakout scenario. Once Solana price clears $219, the market would likely see acceleration toward $245.
Derivatives market data from CoinGlass shows rising participation in the token ecosystem. Trading volume in derivatives has increased 5.19% to $25.09 billion.
Source: Coinglass
Open interest has climbed 1.43% to $10.04 billion. The OI-weighted funding rate stands at 0.0011%, indicating overall balanced sentiment with a slight bullish tilt among traders.
A whale currently faces unrealized losses exceeding $190 million from shorting major cryptocurrencies including Solana. Any breakout could create additional pressure on such heavily shorted positions.
Forced covering from large short positions could act as a secondary momentum driver. This aligns with the broader technical setups pointing to potential upside.
The path higher depends on momentum holding and support levels staying intact during pullbacks. Current market conditions suggest the token is positioned for potential further gains if the technical structure remains unbroken.
The post Solana (SOL) Price Prediction: Cup-and-Handle Pattern Points to $300 Breakout Target appeared first on CoinCentral.
Filed under: News - @ August 11, 2025 8:27 am