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Solana (SOL) has confirmed a significant multi-year cup and handle breakout, signaling a bullish price target of $1,315 supported by strong whale accumulation and upcoming network upgrades.
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Large holders have accumulated over 164,000 SOL recently, reflecting growing institutional confidence in Solana’s long-term potential.
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According to COINOTAG, the planned network upgrade will boost Solana’s transaction capacity by 66%, enhancing scalability and positioning the platform for broader adoption.
Solana’s breakout from a multi-year technical pattern, combined with whale accumulation and network upgrades, sets a bullish outlook with a $1,315 price target.
Technical Breakout Confirms Bullish Momentum for Solana
Solana’s recent price action has confirmed a textbook cup and handle breakout on the weekly chart, a pattern often associated with strong upward momentum. The cup formation, spanning from late 2022 to mid-2024, created a solid base with a low near $8 and resistance between $195 and $255. The subsequent handle, characterized by a downward channel in early 2025, culminated in a breakout above this resistance zone in mid-July, accompanied by a surge in trading volume.
Ali Martinez, a respected market analyst, highlights that this breakout aligns with the 1.414 Fibonacci extension, projecting a price target of $1,315. Momentum indicators such as the Relative Strength Index (RSI) have stabilized in neutral territory, supporting the sustainability of this upward move. Additionally, SOL’s price remains above key moving averages, reinforcing the bullish technical structure.
Whale Accumulation Signals Institutional Confidence in SOL
Data from Lookonchain reveals substantial whale activity, with a single wallet withdrawing 76,000 SOL from Kraken on July 24, contributing to a total withdrawal of 164,000 SOL since early July. Such accumulation by large holders typically indicates a strategic long-term position rather than short-term speculation.
This trend of increasing whale holdings underscores growing institutional trust in Solana’s fundamentals and future prospects. The timing of these movements coincides with the network’s planned upgrades, suggesting that investors are positioning themselves ahead of anticipated improvements.
Network Upgrades to Enhance Scalability and Transaction Throughput
Solana’s upcoming upgrade, detailed in Solana Improvement Document 0286, aims to increase the network’s block capacity from 60 million to 100 million Compute Units, representing a 66% boost. This enhancement is expected to significantly improve transaction throughput and reduce network congestion, addressing one of the critical challenges faced by blockchain platforms.
By expanding capacity, Solana is positioning itself to support a higher volume of decentralized applications and users, which could drive further adoption and value appreciation. This technical advancement complements the bullish price action and whale accumulation, creating a favorable environment for SOL’s growth.
Price Outlook and Key Resistance Levels
Currently trading near $186, SOL faces immediate resistance around $201.70. Maintaining price action above the $195–$255 zone is crucial for validating the breakout and sustaining upward momentum. Should SOL hold this range, technical analysis points toward the $1,315 target as the next significant milestone.
Investors should monitor volume trends and network upgrade progress as key indicators of the breakout’s durability. The convergence of technical strength, institutional interest, and network improvements provides a compelling case for a sustained bullish phase.
Conclusion
Solana’s confirmed cup and handle breakout, supported by substantial whale accumulation and a major network upgrade, establishes a strong bullish case with a price target of $1,315. The combination of technical indicators and fundamental enhancements positions SOL for potential significant gains, making it a noteworthy asset for investors seeking exposure to scalable blockchain technology.
