Recent data on Solana (SOL) price shows a bullish sentiment with the formation of a classic 'cup-and-handle' pattern and increasing network activity.
Solana Price Pattern: Cup-and-Handle Formation
The price of Solana has remained relatively flat for several weeks, only moving up 2% last week and 10% year-to-date. However, zooming out reveals that Solana is beginning to form a classic 'cup-and-handle' pattern around the $150 range.
Spike in Solana Network Activity
Related data shows that outflows of SOL from exchanges have started to pick up again, indicating accumulation. The number of daily active addresses on the Solana network has surpassed 14.49 million, marking the highest level recorded so far in 2025, indicating growing user activity.
Funding Conditions and Upcoming Resistance Levels
Despite the increasing activity, the funding rate for SOL remains low, suggesting cautiousness among traders. Current resistance levels are around $163.82, with the next significant mark being $194.25.
Although Solana has not yet achieved significant milestones, current activity and accumulation indicators may suggest a potential future price increase.
