Latest news with #SpotSolanaETF

Time of India

Solana could skyrocket to $6000 — analysts spot classic cup-and-handle breakout

Solana (Binance-Peg) surges past $198 with 9% daily gain What is the cup-and-handle pattern that has Solana bulls excited? Live Events Why are analysts bullish on Solana right now? CoinCentral sees SOL breaking above key resistance between $179 and $189, suggesting a near-term rally toward $295 if momentum holds. sees SOL breaking above key resistance between $179 and $189, suggesting a near-term rally toward $295 if momentum holds. CCN backs that outlook, highlighting a move toward $218, and possibly $300 to $416, if buying pressure sustains. backs that outlook, highlighting a move toward $218, and possibly $300 to $416, if buying pressure sustains. BraveNewCoin has its eye on a golden cross forming near the $183 neckline, which could lift SOL to $201.50 and later $220. What are the wild upside targets for Solana? TradingView analysts say SOL could reach $787 , then $1,314 , and possibly as high as $2,744 , if it follows the full trajectory of past cup-and-handle rallies. say SOL could reach , then , and possibly as high as , if it follows the full trajectory of past cup-and-handle rallies. echoes this, predicting a massive 1,500% surge toward $2,700 if SOL maintains strength above $170 . echoes this, predicting a massive toward if SOL maintains strength above . In the boldest forecast so far, AMBCrypto and Cointelegraph analysts suggest that SOL could skyrocket all the way to $4,390, drawing from a multi-year technical setup. What's fueling this potential breakout? Total Value Locked (TVL) on Solana's network has climbed to over $9 billion , up from just $6B earlier this year. on Solana's network has climbed to , up from just $6B earlier this year. Active wallets are surging, with over 3.3 million now recorded on-chain. are surging, with over now recorded on-chain. ETF optimism is rising, with inflows topping $92 million and growing buzz around a possible Spot Solana ETF approval. is rising, with inflows topping and growing buzz around a possible approval. Technical signals like the MACD, MFI, and Parabolic SAR are flashing green on multiple timeframes. Is the Solana price rally backed by real network activity? Could Solana price really hit $6,000 or more? What are the risks to watch for with SOL? Should investors be cautious or bullish on Solana now? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel is $6K SOL really on the horizon?- Solana price is once again drawing serious attention as it breaks into a bullish pattern that has crypto traders buzzing. As of Monday, Solana (SOL) traded at $195.89, hitting a five-month high and climbing over 34% in the last 30 days. Analysts are pointing to a classic cup-and-handle formation on the charts—a technical signal often associated with major upside potential. If this breakout holds, the sixth-largest cryptocurrency by market cap could surge all the way to $6,300, a jump of over 3,000% from current with Solana still 35% below its all-time high of $295, investors are asking: Is this the start of something big—or another crypto mirage?Solana (Binance-Peg SOL) is seeing a strong bullish move today, trading at, uporin the past 24 hours. This sharp rally comes as momentum builds around a potentialon higher timeframes, which has traders and analysts eyeing significantly higher targets if resistance levels continue to recent price action pushes SOL closer to a critical psychological threshold at $200—marking its highest levels in weeks. If Solana can maintain this upward momentum, short-term targets of, and evenmay come into cup-and-handle is a chart pattern that resembles—you guessed it—a cup with a handle. The 'cup' forms as the asset gradually recovers from a significant decline, creating a rounded bottom. The 'handle' follows, usually a brief consolidation or pullback before a Solana's case, analysts like Trader Tardigrade have spotted this formation developing on long-term charts, including the weekly and two-month timeframes. According to Tardigrade, the pattern has formed over a four-year span, suggesting an extremely strong foundation. He predicts a potential price of $4,800, with others like Robert Mercer and Mister Crypto calling for even more bullish targets around $6, speaking, the breakout will only be confirmed once SOL price clears $250, the neckline resistance. If that happens, the pattern's measured move—from the bottom of the cup near $10 (in Nov 2022) to the neckline—suggests a full target near $6,300 by 2025–2026.A growing number of technical analysts have spotted aon Solana's weekly and monthly charts, identifying the textbook "cup and handle" formation. This classic pattern typically appears at the bottom of consolidation phases and often triggers a strong upward move when the short-term projections, some ultra-bullish analysts are drawing much higher targets based on extended versions of the same no mainstream analyst has put $6,000 on the table—at least not key fundamentals are supporting the bullish narrative:Yes—and that's a big reason why analysts are taking this move daily active addresses jumped 9% in the past 24 hours, according to data from Nansen, showing strong user engagement. More importantly, the network's daily transaction count continues to surge, keeping pace with the blockchain's reputation for speed and low total value locked (TVL)—a key metric for decentralized finance (DeFi) strength—has also jumped sharply. From $6.1 billion on April 8 to $10.3 billion as of Monday, that's a 63% increase in just over three months, per DefiLlama. With this rise, Solana now holds 6.28% of the total DeFi market, second only to Ethereum, which remains far ahead at 68% surge in activity suggests that the price rally isn't just technical—it's being backed by real usage on the it's possible—but not chart setup and momentum both support the idea of a long-term rally. Solana has already skyrocketed over 2,400% since its low of $10 in November 2022. The breakout above $155 confirmed the handle portion of the pattern, and analysts now await a break above the key resistance at $ it's important to remember: not every cup-and-handle delivers on its full target. Research by veteran technical analyst Thomas Bulkowski found that only 61% of these patterns reach their projected means while the outlook is optimistic, it comes with a caution with all crypto, volatility is always in play. A failed breakout or macroeconomic shift (like rising interest rates or regulatory shocks) could stall the the crypto market is known for hype-driven runs that lose steam if fundamentals don't keep up. While Solana's growing DeFi footprint and active user base are good signs, any slowdown in development or loss of trust could derail there's the broader market sentiment—Bitcoin and Ethereum's moves often set the tone for the rest of the altcoin space. If those giants stumble, Solana might not escape the its current level near $195, Solana is still in a relatively favorable range for long-term holders betting on the $6,000 target. The price remains far below its all-time high of $295, offering what some consider a solid risk-reward the next few weeks will be crucial. Watch for whether SOL can break and hold above the $250 neckline—that's the make-or-break level for confirming this the end, Solana's rally is being fueled by both strong technical patterns and a rise in real-world usage, giving bulls plenty to be excited about. Whether it lives up to the $6,300 hype will depend on what happens next on the charts—and current Solana price target from the pattern is aroundHigh network activity, growing TVL, and user growth are backing the Solana price rise.