SOL Targets $6,300 After Breakout and 34% Rally

Solana’s (SOL) price staged a significant rally, climbing 34% over the past 30 days and touching a five-month high of $193 on Monday. The sixth-largest cryptocurrency, now trading 35% below its $295 all-time high, is positioned to enter a new phase of price discovery, analysts say.

Following over 2,400% gains since bottoming near $10 in early 2023, SOL has painted a consistent cup-and-handle technical pattern across multiple time frames.

“SOL is seeking a breakout from a textbook cup-and-handle pattern… I’m bullish here.”

Bullish Price Targets Reach $6,300

Crypto investor Robert Mercer shared analysis identifying a cup-and-handle pattern on the weekly SOL chart. Popular crypto analyst Trader Tardigrade added that the $4,800 target (440% upside) is also probable within 3-18 months.

Technical chart analysis suggests that a confirmed break above the $250 neckline — where SOL previously broke above its macro chart handle at $155 — has already occurred. This positions SOL’s upside target for 2025–2026 at approximately $6,300 (over 3,300% upside) through a traditional cup-and-handle projection model.

Note: While technically bullish, analysts Thomas Bulkowski’s research indicates these patterns only successfully reach their targets 61% of the time.

Network Activity Supports Technical Rally

Strong on-chain metrics support SOL’s potential parabolic rally. Daily active addresses saw a 9% increase, and Solana’s transaction volume has grown significantly.

Solana’s total value locked (TVL) has surged to $10.3 billion — a six-month high — representing over a 63% increase from four months prior. This positions SOL as the second-largest blockchain in TVL by market dominance.

Given the significant upside targets and high network activity, market participants are closely monitoring technical breakouts to validate the potential for Solana’s next major price appreciation phase.