Solana (SOL) Weekly Chart Targets $300 Breakout After Bullish Formation

The Solana (SOL) weekly chart is showing a bullish flag, signaling a potential upside move towards $300.

Solana (SOL) appears to be ready for a major breakout as its weekly chart reveals a convincing bullish setup. Over the past few days, Solana’s price has been consolidating despite hitting an all-time high on November 22.

But if the altcoin breaks through critical resistance levels, it could reach $300. Here’s how.

Solana Has Indicators in Its Favor

On Solana’s weekly chart, the altcoin has formed a classic bull flag pattern — a bullish indicator that signals a potential continuation of the upside move.

A bull flag consists of two spikes separated by a short period of consolidation. The flagpole forms during a sharp, near-vertical rise in price as buyers overpower sellers. This is followed by a pullback phase, creating parallel upper and lower trendlines that resemble a flag.

As shown below, SOL broke out of this pattern, indicating that the consolidation period is over. Therefore, the uptrend could continue, and the token could be set for a sustained rally. If this trend continues, Solana price could rise above its all-time high of $264.66.