Solana price could rise to $1.300 according to analyst

Solana looks ready for a strong rise. According to analyst Ali Charts, on-chain data shows that SOL has built a solid support level around $100, where more than 40 million SOL has been traded. This could point to growing interest among investors.

In brief:

• Solana has built support around $100, with the current price at $105.45
• The weekly chart shows a massive cup-and-handle pattern with a neckline at $360
• A breakout above $360 could lead to a rise towards $1.300

Cup-and-handle pattern on the weekly chart

The analysis focuses mainly on Solana’s weekly chart. Over the past few years, SOL is said to have formed a large cup-and-handle pattern. This technical pattern emerges when a price first rises, then falls in a U-shape (the cup), and then declines briefly before moving up again (the handle).

According to Ali Charts, the neckline, the resistance zone where breakout signals emerge, is said to sit around $360. If Solana actually breaks out above this level, that could mark the start of a much larger expansion towards $1.300.

Moment of truth approaching

With the current price of $105.45, Solana is still well below the mentioned level of $360. Investors are therefore waiting for a confirmed breakout above that resistance level before the predicted rise towards $1.300 can take place. The coming period will show whether the support level around $100 actually holds and whether Solana is able to climb towards higher levels.