Solana (SOL) Primed for a $2,700 Surge — Here’s the Make-or-Break Factor

Solana’s SOL token is flashing bullish signals—but one critical condition could make or break its rally to $2,700.

The Setup:
SOL’s recent price action mirrors historical breakouts, with traders eyeing a repeat performance. Technicals suggest a clear path to $2,700… if buyers hold the line.

The Catch:
Market sentiment remains fickle. A drop below key support levels could derail the rally faster than a DeFi rug pull.

Why It Matters:
Solana’s ecosystem is firing on all cylinders, but crypto’s volatility means nothing’s guaranteed—except, of course, the usual parade of ‘this time it’s different’ hot takes from crypto Twitter.

Solana Bulls Eye Breakout As $170 Emerges As Critical Resistance

In an X post on July 12, Martinez outlines a bullish technical analysis on the Solana market, stating the altcoin is at a key price juncture. Using the weekly chart, the analyst has been able to identify a mega cup-and-handle pattern, which usually precedes a major price rally. However, the altcoin faces a critical price resistance at the $170 region.

For context, the cup-and-handle pattern is a popular bullish chart formation that indicates potential for significant price upswings. As seen in the chart below, it resembles the shape of a teacup, commencing with a bearish market, followed by a price recovery of equal magnitude as seen between the start of 2022 and the start of 2025.

During this period, investors saw Solana prices crash from around $250 to a cycle low of $9.88 before experiencing a gradual return to a similar peak, thereby forming the cup pattern. Thereafter, SOL has experienced significant price corrections and rebounds, eventually creating a descending price pattern that represents the handle of this formation.

Notably, the cup-and-handle pattern only translates into a price surge following a decisive price breakout above the formation’s neckline. Following recent gains, Solana finds itself within touching distance of this neckline at the $170 price mark. Martinez explains that a successful weekly close above this major resistance will validate the bullish intentions on Solana, inducing a heavy market demand and paving the path for higher price territories.

Based on the Fibonacci retracement and extension levels on the chart, the initial price target in the event of this breakout is set at $295, instantly matching the current all-time high. However, the historical magnitude of breakouts from cup-and-handle pattern points to lofty price targets, such as $ $787, $1,314, and a max target of $2,744.

However, a rejection at $170 may force Solana to visit lower support levels NEAR $135 or even $100, which has served as a major demand zone in the past.

Solana Price Overview

At the time of writing, Solana is trading at $162.58 with a decline of around 0.58% as earlier stated. Meanwhile, the asset’s daily trading volume is down by 38.77% and valued at $3.72 billion.