The post Why Solana Price May Rally to $500 In Next Few Weeks appeared on BitcoinEthereumNews.com.

Solana price is slowly forming a highly bullish chart pattern that may push it from ~$150 today to almost $500 in the next few months. Aiding to this SOL forecast is on-chain data showing the the number of transactions, addresses, and fees in the network are rising, and beating other popular chains. SOL Price Analysis: Chart Signals 3X is Possible Solana price is a bit volatile on the short-term charts. However, a closer look at longer-timeframe charts show that the coin may be on the verge of a strong breakout, potentially to $500. The chart below reveals that the value of SOL has been forming a giant cup and handle pattern since 2021. C&H is a bullish continuation pattern made up of three key parts, including a rounded bottom, a resistance, and a consolidation or a pullback. Its upper side is at $210, while the lower side of the cup is at ~$10. The ongoing solana price action is the handle section. Therefore, a final break above the cup section could lead to a bullish breakout to $462. This SOL price forecast is derived by measuring the cup’s depth, which is about 95%, and then measuring the same distance from the upper section. Solana Price Chart The bullish SOL prediction will become invalid if the coin crashes below the key support at $94.50, its lowest level in April. Additionally, it is likely that this analysis will take months or even years to work out. For example, the first section of the cup took over four years to complete. Solana Price Could Benefit as Monthly Transactions Jump Nansen data show that the Solana network is doing well, and is outperforming other top blockchains in the crypto industry. The number of transactions in the network jumped by 48% in the last 30…

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Filed under: News - @ May 8, 2025 1:28 am