Solana (SOL) Continues to Impress
Solana (SOL) continues to impress with steady gains, trading firmly above $150 and extending its winning streak into a fourth consecutive week. Since hitting its April low, SOL has surged by 61%, fueling speculation that it could soon stage a major breakout — especially as Ethereum struggles to reclaim the $2,000 mark.
Technical Signals and Projections
Technical signals point to a powerful rally ahead. Analyst Ali Martinez recently highlighted that Solana’s weekly chart has formed a textbook “cup and handle” pattern, a bullish setup often preceding significant upside. If SOL breaks through the $260 resistance — the top of the “cup” — projections suggest a potential climb toward $510, implying a 240% increase from current levels.
Supportive Catalysts for Bullish Scenario
Several catalysts are lining up to support this bullish scenario. There’s growing optimism that a spot SOL ETF could secure regulatory approval this year, inviting fresh institutional inflows.
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Network Strength and Market Dynamics
Meanwhile, Solana’s network strength is on display: the total stablecoin market cap on its blockchain has reached a record $13 billion, and rising activity around meme coins has driven decentralized exchange volumes higher. In contrast, Ethereum’s technical picture looks more fragile. ETH remains trapped below key resistance levels, with a looming triple-top formation threatening deeper losses. If Ethereum’s price breaks below its neckline at $2,118, chart projections suggest it could fall toward $1,078 — a move that would slash its market cap dramatically.
Potential Market Shifts
If both trends continue, Solana could eventually overtake Ethereum in size — but as both patterns are forming on the weekly charts, any major shifts will take time to fully materialize.
Author: Alexander Stefanov
