Solana is expected to rise significantly from its current value to $4,500. This forecast is based on the cup-handle formation observed on Solana charts. SOL, which has strong fundamentals, has been performing positively with its recent price increases.
A distinct cup-handle pattern has emerged on the weekly Solana charts. This technical formation indicates that the SOL price could increase by 2,600% and reach $4,500. The cup-handle formation usually supports the upward movement of prices. SOL, which fell from $206 to $9.20 with the collapse of FTX in 2022, is giving signals of recovery thanks to this formation.
Solana is outpacing other blockchains in terms of decentralized exchange (DEX) volume. According to DeFiLlama data, the Solana network leads 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. Weekly data shows Solana exceeding Ethereum’s $8.8 billion volume with $12.8 billion.
This data suggests that Solana is increasingly favored in the DeFi ecosystem and could challenge Ethereum’s market share. In a bull market, Solana is outperforming Ethereum. Since the beginning of the year, SOL has gained 63%, while ETH has gained only 17%.
Short Term Expectations
Solana is expected to reach $190-$195 by the end of this month. According to CoinGape analysts, Solana is likely to trade in the $230-$250 range, approaching its current highs. In the long term, analysts predict that Solana could reach four-digit figures next year. Solana continues to support price growth thanks to its strong fundamentals and leadership in the DeFi ecosystem.
For investors, Solana offers significant long-term potential. Revenue generation opportunities and ecosystem developments could positively impact SOL price movements.