The cup-handle formation seen on Solana’s charts suggests that the SOL price could rise to $4,500. Thanks to its leadership in the DeFi ecosystem, Solana has gained a significant advantage in trading volume, leaving Ethereum behind. Analysts say that Solana has the potential to reach $190-195 in the short term and four-digit figures in the long term.
The SOL price is expected to make a big jump from its current level and reach $4,500. This forecast is based on a cup-handle formation. Solana, which has strong fundamental indicators, is showing a positive outlook with its recent price increases. A distinct cup-handle pattern has formed on the weekly chart; this pattern indicates that the SOL price could rise by 2,600% and reach $4,500. The cup-handle formation usually indicates that the rise will continue. SOL, which fell from $206 to $9.20 after the FTX crash in 2022, is now giving signals of recovery with this formation.
Solana is the leader in decentralized exchange (DEX) volume, leaving other chains behind. According to DeFiLlama data, the Solana network is ahead in daily and weekly trading volumes. In the last 24 hours, the Solana network reached $2.17 billion in DEX trading volume, surpassing Ethereum’s $1 billion volume. According to weekly data, Solana exceeds Ethereum’s $8.8 billion volume with $12.8 billion.
This data suggests that Solana is a growing favorite in the DeFi ecosystem and could challenge Ethereum’s market share. In a bull market, Solana has been outperforming Ethereum; SOL is up 63% since the beginning of the year, while ETH is up 17%.
Short Term Expectations
By the end of this month, Solana price is expected to reach $190-$195. According to CoinGape analysts, Solana could trade in the $230-$250 range, approaching its current highs.
Long Term Expectations
In the long term, analysts predict that Solana could reach four-digit figures in the coming year. This rise could mark the peak of the bull market. Solana continues to support the price increase thanks to its strong fundamentals and leadership in the DeFi ecosystem.