Recent analysis indicates that Solana (SOL) may be on the verge of significant growth due to the formation of a classic "Cup and Handle" pattern and increasing institutional interest.
Cup and Handle Pattern on Solana's Chart
Crypto analyst Ali Martinez reported on Solana's weekly chart featuring the formation of a "Cup and Handle" pattern beginning around mid-2022, creating a rounded bottom into early 2024. Since then, SOL has formed a descending handle into 2025. Martinez suggested that this structure reflects waning selling pressure and a likely accumulation phase.
Trading Activity and Recovery of Solana
On July 3, 2025, Solana showed strength, trading at $154.30 with a 1.30% intraday gain. The token bounced from recent lows of $140, reaching an intraday high of $156.42. This price recovery came with a trading volume of 343,000, supporting the upward movement. The Relative Strength Index (RSI) rose to 53.95, crossing above the neutral 50 level.
Launch of REX Osprey SOL ETF and Its Impact
The REX Osprey SOL Staking ETF (SSK) was launched on July 1, 2025, as the first U.S.-listed spot Solana staking ETF. On its second day, it posted $33.7 million in trading volume, closing at $25.90. This performance already outstripped the Solana futures ETF (SOLZ), which only reached $1 million on its debut. Bloomberg ETF analyst Eric Balchunas noted that the ETF's volume places it in the top 1% of all ETF launches.
As a result, Solana is demonstrating signs of strength, and a possible breakout above the $210 resistance level could pave the way for new highs. Concurrently, increasing institutional interest may further stimulate the asset's growth.
