Solana climbed to $120 for the first time in eight months after a 16% weekly gain, and several chart analysts now point to targets between $130 and $500. The move tracks a broader crypto rebound that also pushed Bitcoin briefly to $87,000.
Solana's SOL token jumped 16% over the past week to trade near $120, recovering from a slide below $100 in mid-September. The rally coincides with a broader market resurgence, as Bitcoin briefly soared to $87,000 over the same stretch.
Chart Watchers Eye a Bull Run
Analyst Ali Martinez had flagged a bull flag forming on SOL's four-hour chart earlier this month and said he was watching the $105 level closely. He assumed a sustained close above that level could confirm a breakout toward $130.
Other traders have since built on that thesis. X user Ash Crypto said SOL has reclaimed its weekly MA200 and hit $120 for the first time in eight months, forming a weekly golden cross that suggests the bottom is already behind it. Veteran trader Peter Brandt pointed to what he described as a textbook cup-and-handle pattern on Solana's chart, and X user FOUR | Crypto Spaces shared the same view, expecting a confirmed breakout to move the price sharply.
Price Targets Diverge
Analyst Gerla said SOL has entered the expansion phase he had been waiting for, setting $500 as his target. According to X: "The only question is how long it takes to get there," he said.
Not every prediction reaches that high. X user Cup, who has been bullish on several cryptocurrencies in recent months, called the current move the start of an altcoin breakout and predicted SOL could climb to $450.
Most analysts now support the bullish scenario, but the size of the weekly move leaves the $105 level as the line traders are watching for confirmation.
Source: CryptoPotato
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