- •Solana forms a multi-year cup-and-handle pattern with resistance near $260, setting the stage for possible breakout expansion.
- •Analyst Gordon sees SOL as undervalued, projecting 3–5x potential if the neckline clears with strong volume confirmation.
- •Lingrid stresses the $200–$205 region as crucial support, with $212–$215 serving as the immediate level to validate upside momentum.
Solana (SOL) is also attracting significant interest with both short-term support retests and a long-term breakout structure being highlighted by analysts. The recent price activity is an indication of an increasing involvement of buyers, and the volume and technical trend converges at the key levels of resistance and support..
Solana’s Long-Term Cup-and-Handle Setup
Analyst Gordon (@AltcoinGordon) recently described Solana (SOL) as “ridiculously cheap,” pointing to a clear high-timeframe bullish structure. His view is based on a developing multi-year cup-and-handle formation across Solana’s full bull and bear cycle.
The left side of the cup took shape during the 2021 decline when SOL fell from highs near $260 to below $20 through 2022. From there, the rounded recovery between 2023 and 2024 gradually rebuilt price strength, pushing back toward earlier peaks. This recovery marks the cup portion of the setup.
The current formation shows price pressing into the $250–$260 resistance band. A shallow pullback has developed to form the “handle,” a consolidation phase often preceding breakouts. Classical projections suggest a clean breakout above $260 could target the $400–$450 zone, aligning with Gordon’s view of strong upside potential.
Short-Term Market Structure and Volume Support
While Gordon’s analysis focuses on the broader picture, Lingrid offered insight into Solana’s shorter-term structure. Lingrid observed that SOL rebounded from the sub-$200 support cluster at the channel base, breaking out of a pullback channel and building higher lows.
This price action suggests buyers are willing to accumulate at stronger levels, providing a constructive backdrop. The current key zone is between $200–$205, which price is now retesting as support. Holding this level validates the breakout and positions SOL for continued strength.
Volume data supports this structure. SOL has gained 38.8%, with an over-trading volume of over $7.01 billion over the last 24 hours. This elevated turnover confirms active participation, reinforcing that the rebound was not a low-liquidity move. The Vol/Market Cap ratio of 6.12% reflects healthy circulation relative to capitalization.
Resistance Levels and Scenarios Ahead
At the time of writing, Solana is trading at $210.56 with a market capitalization of $114.47 billion. Resistance on the short-term is within the range of $212‑215, which intraday highs capped the recent upsurge. The bullish structure of Lingrid would be confirmed by a daily close above this band that would be supported by volume that continued to expand.
From a longer-term perspective, the $250–$260 region remains the defining neckline. Clearing that level with conviction could unlock the projected move Gordon outlined, aligning technical analysis with investor sentiment.
Two scenarios emerge in the immediate term. When SOL keeps the floor maintained at $200‑$205 and reclaims $215, there is likely to be an upside to the $250 zone. Alternatively, the violation of the bullish structure by maintaining a decline below $200 would reopen the lower supports and postpone the break.