Solana News Today: Solana Nears $215 Breakout Threshold With $3,500 Target in Sight

Generated by AI AgentCoin World
Sunday, Aug 17, 2025 10:02 pm ET1min read
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Aime RobotAime Summary

- Solana's two-month chart shows a 2-year cup-and-handle pattern with $215 as a key breakout level, targeting $3,500 by August 2025 if confirmed.

- On-chain data reveals 51% growth in new Solana addresses and record 5,224 wallets holding over 10,000 SOL, signaling retail and institutional interest.

- Technical indicators like RSI (60) and positive MACD support the bullish case, aligning with the pattern's potential for continued upward momentum.

- Current price at $192.04 has repeatedly tested $215; a confirmed close above this level would validate the pattern and trigger the $3,500 projection.

Solana has developed a long-term cup and handle pattern on its two-month chart, with $215 identified as a key breakout level. Analysts suggest that a confirmed close above this neckline could activate a price target of $3,500 by August 18, 2025. The pattern, a recognized bullish formation in technical analysis, has taken shape over nearly two years, beginning in late 2021 and concluding in mid-2023, followed by a consolidation phase through early 2025 [1].

The potential for a breakout is supported by both on-chain and market activity. Solana’s 24-hour trading volume reached $4.13 billion, with a market capitalization exceeding $103 billion. On-chain data shows a 51% increase in new

Solana
addresses since August 3, indicating heightened retail participation. Additionally, the number of wallets holding more than 10,000 SOL has reached 5,224, a record high that suggests growing institutional accumulation [1].

Technical indicators also reinforce the bullish case. The Relative Strength Index (RSI) currently stands at 60, suggesting potential for further upward movement. The Moving Average Convergence Divergence (MACD) remains positive, supporting the continuation of the uptrend. These metrics, in combination with the developing cup and handle pattern, provide a compelling technical foundation for Solana’s price trajectory [1].

At the time of the latest session, Solana traded at $192.04, with a 3.1% increase over the past 24 hours. The price has tested the $215 neckline multiple times, and a close above this level on the two-month candle would confirm the pattern and set the stage for the $3,500 target. Analysts emphasize that the coming weeks will be crucial in determining whether the breakout materializes, with both retail and institutional investors closely watching for confirmation [1].

Source: [1] Solana’s Multi-Year Cup and Handle Pattern Suggests Potential Breakout Above $215 and Target of $3,500 (https://en.coinotag.com/solanas-multi-year-cup-and-handle-pattern-suggests-potential-breakout-above-215-and-target-of-3500/)