Solana Breakout Targets $1,300 After Cup and Handle Formation

TL;DR Solana’s cup and handle breakout projects $1,314 target, backed by Fibonacci extensions and bullish ￰0￱ signals show overbought conditions, but a daily breakout above $238 strengthens the outlook for higher ￰1￱ holdings of $1.56 billion SOL support long-term stability as price eyes $1,300 target. Multi-Year Pattern Breaks Out Solana has completed a breakout from a cup and handle formation that has taken shape over the past three ￰2￱ rounded base built from mid-2022 into 2023 formed the “cup,” while the 2024–2025 pullback created the “handle.” Crypto analyst Ali Martinez said, $1,314.41 is the main target for Solana $SOL after breaking out of a cup and handle! ￰3￱ — Ali (@ali_charts) September 12, 2025 Price projections from Fibonacci extensions point to levels at $295, $787, and $1,314.

At the time of analysis, Solana traded near $238, showing a weekly gain of more than 15%. On the daily chart, Solana has also cleared resistance from an ascending ￰4￱ structure is marked by higher lows pressing against a flat top, a setup often associated with accumulation ￰5￱ Crypto King remarked , “Finally today Solana showed its strength and broke the ascending triangle pattern with great ￰6￱ is clear that new highs will be made now.” The breakout sets near-term levels around $280, $300, and $360 if momentum ￰7￱ price at $238 shows buyers have taken ￰8￱ Indicators to Watch With Solana hovering around $239, it has been testing resistance at the upper Bollinger Band, which is at $232.

This suggests a strong bullish momentum but also signals that the token might be near overbought ￰9￱ 20-day SMA at $208 immediately supports the price, while the lower band at $185 offers deeper protection from a downside retracement.) and 94.19 (orange). These values place Solana in overbought ￰10￱ such levels can lead to consolidation or short-term pullbacks, extended overbought readings are also common in strong ￰11￱ Holdings Support Outlook Institutional participation in Solana remains ￰12￱ show eight entities in three countries hold a combined 6.55 million SOL, valued at about $1.56 ￰13￱ holdings represent 13.2% dominance and 1.21% of total supply, reflecting steady allocation into the asset.