TLDR
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Solana (SOL) has gained 10.9% this week and is testing resistance near $179.
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A long-term cup and handle pattern points to a possible breakout toward $295.
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Solana’s Total Value Locked (TVL) has grown from $6 billion to over $9 billion.
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Spot and staking ETF inflows into SOL have passed $190 million, with SEC approval odds near 95–99%.
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Solana’s Q2 revenue hit $570 million, and its market cap now exceeds $89 billion.
Solana (SOL) has climbed 10.9% over the last seven days. The price is testing resistance around $179 after consolidating between $145 and $175.
Analysts point to a large cup and handle formation on the weekly chart. This technical pattern is viewed as a potential indicator for a move to higher levels.
The handle appears to be forming now with a shallow pullback from the recent high. This final phase of the pattern typically leads to a breakout if volume increases.
$SOL Solana Weekly Update 🪙
Massive cup and handle forming on the weekly timeframe ☕️
A new ATH would put this above 295 🐂 pic.twitter.com/LVkaSCu4JG
— CJ (@CJsCalls) July 19, 2025
The projected breakout level sits near $185 to $189. If broken, it may open the door for a rally toward $235, $263, and even $295.
ETF Flows and Developer Growth Support the Trend
Institutional demand for Solana is growing through new ETF products. The REX-Osprey spot SOL ETF has now received over $92 million in inflows.
Staking-focused ETFs connected to Solana are also gaining traction. Their assets are nearing $100 million, offering rare on-chain staking rewards for investors.
The U.S. SEC is encouraging quick resubmission of spot ETF applications. Analysts estimate a 95–99% chance of approval within 2025.
ETF approval could accelerate inflows into the Solana ecosystem. Analysts believe it may help push the price toward all-time highs.
Technical Indicators and Network Activity Remain Strong
Trading volume has supported the rally from recent lows. Volume profile analysis highlights strong buyer support around $145.
Above the current level, thinner trading zones suggest less resistance. These areas often allow faster price movement if a breakout occurs.
Short liquidations during the recent push reached $34.59 million in a single day. Solana has maintained support above $159 despite recent volatility.
Active wallets on the Solana network now exceed 3.3 million. TVL has increased from $6 billion to more than $9 billion.
Solana also recorded $570 million in Q2 revenue. This made up 46% of all chain revenue in Web3, led by bots, apps, and staking tools.
Real-world adoption is rising with tokenized assets now live on-chain. Trading volume across Solana DEXs hit $3.15 billion in a day.
Major exchanges like Raydium, Meteora, and Orca lead ecosystem usage. Meanwhile, institutional treasuries are adding SOL exposure.
One NYSE-listed firm, BIT Mining, raised $300 million for a SOL-based treasury. Solana’s market cap now stands above $89 billion.
The price now sits just below the $179–$185 breakout level. A move through this range may confirm the pattern and shift attention to higher targets.
