In recent developments, Solana (SOL) is showing promising signs of a potential surge, with traders taking note of a classic chart pattern indicating a likely price hike to $190. The convergence of factors such as steady ETF inflows and a bullish cup and handle formation, along with an overall positive sentiment in the crypto market, suggests an upswing may be imminent.
Following a prolonged phase of consolidation, Solana's price structure is tightening just below a critical resistance level, hinting at a possible breakout. Analysts highlight that Solana has crafted a high-time-frame cup and handle pattern, with projections aiming for a breakout target between $180 and $190. Furthermore, SOL has surpassed its 50-day moving average for the first time since September 2025, a bullish indicator pointing to a potential upward trend.
Since mid-November 2025, Solana's price has been confined within the $120 to $145 range, shaping a cup and handle pattern on the daily chart. This formation is often interpreted as a continuation signal, indicating gradual accumulation followed by a controlled pullback, setting the stage for a potential breakout. The $145 resistance level has been a recurring cap for SOL rallies over the past few months, increasing the chances that surpassing this threshold could lead to a substantial rally, potentially boosting SOL to around $180, a significant 25% increase from its current standing.
The reclaiming of the 50-day moving average further bolsters the bullish outlook. Historically, maintaining this position has signaled a shift from corrective phases into trending markets, implying that sellers may be losing their grip on Solana's market structure.
Prominent crypto trader NekoZ echoed this sentiment, describing the SOL chart as a "masterpiece," and noting the potential for a massive breakout. "The $SOL rounding bottom is painting a masterpiece," NekoZ remarked. "Massive breakout on the daily chart. While everyone was bearish at $120, the smart money was accumulating. Next stop: $190+. Don’t short a trend reversal this clean."
In terms of liquidity, data from CoinGlass reveals crucial inflection points for Solana. Liquidation heatmaps indicate significant long liquidations on a $15 dip toward $130, highlighting potential vulnerabilities if support fails. Conversely, short liquidations cluster near $160, where approximately $520 million could be forced to unwind, potentially propelling the price upward if resistance is breached.
Meanwhile, SOL's exchange-traded funds (ETFs) continue to provide a solid foundation. Recent data shows that US spot ETFs have recorded $10.7 million in net inflows, primarily driven by Bitwise's BSOL with $8.6 million. Year-to-date cumulative net inflows have increased from $1.02 billion to $1.14 billion, reflecting steady demand and suggesting that this backdrop might help mitigate volatility during a breakout.
In conclusion, Solana's current market setup, characterized by key bullish patterns and consistent ETF inflows, positions it well for a potential price increase towards $190. However, as with all investments, caution and thorough research are advised.