Solana Surges 6.11% Weekly, Eyes $188 Breakout

Solana (SOL) is demonstrating bullish momentum as it approaches a critical resistance level of $170. Crypto analyst Ali Martinez identified a cup-and-handle pattern, which is typically associated with bullish continuation. A sustained weekly close above $170 could trigger an extended rally, potentially reaching as high as $188 and beyond.

Currently, SOL is trading around $162.89 after a 6.11% weekly surge, positioning it just below the key resistance level. Buyers are attempting to flip the $164–$170 zone into support. According to Fibonacci extension levels, SOL could target as high as $2,000 in a bullish scenario, with intermediate levels to watch including $250, $450, and $800. However, a failure to break above $170 may result in a retracement toward the $90–$100 support range. Martinez pointed to a falling wedge breakout and increasing volume as technical signs favoring the bulls.

User engagement metrics from the week show Solana leading in weekly active users with 18.2 million, placing it ahead of BNB Chain at 16.7 million and NEAR Protocol at 16.2 million. Other networks such as Base and Jito also saw strong activity growth. The surge in users suggests growing traction for Solana’s ecosystem amid increasing demand for decentralized applications. Total activity across the top 10 chains reached 92.1 million users, indicating rising interest beyond Bitcoin. Analysts view this trend as an early signal of a potential altcoin season, with capital rotating into scalable layer-1 platforms like Solana.

After forming higher lows since late June, SOL is testing the $164–$170 resistance range for the third time. The asset recently faced rejection just below $168, signaling cautious sentiment among traders. A successful breakout and hold above $170 would set up a possible move toward the next resistance at $188.28. If the breakout fails, support levels remain near $144.01 and $134.54. The current consolidation below resistance, combined with technical patterns and surging volume, positions SOL as a leading asset to watch. Analysts agree that momentum must hold above the neckline for bullish continuation to remain valid.