Solana News: Potential Breakout Ahead as SOL Forms Classic Cup and Handle Pattern

In the world of cryptocurrency, technical analysis often plays a crucial role in predicting future price movements. Recent developments in the Solana (SOL) market have caught the attention of technical analysts, who observe a classic cup-and-handle pattern that could signal a significant breakout in the near future.

Solana (SOL) Forms Classic Cup and Handle – Potential Breakout Ahead?

Solana (SOL) has been experiencing market volatility, with its price not exceeding crucial support levels despite a 37% fall since March. Technical analysts observe a classic cup-and-handle pattern, often preceding significant breakouts. SOL is currently trading NEAR $125 with crucial resistance at $130. The general market decline has kept SOL under pressure, but technical indicators suggest a possible reversal. Crypto analyst Ali Martinez recently noted the cup-and-handle pattern, indicating a potential rise in SOL’s price if validated.

Raydium to Launch Flexible Token Launchpad, LaunchLab, Within a Week

Solana decentralized exchange Raydium is set to launch its new token launchpad, LaunchLab, within a week. The platform aims to address user pain points on its competitor Pump.fun by allowing users to adjust a token’s bonding curve and tokenomics. Raydium had previously operated as an automated market Maker and decentralized exchange on Solana, while Pump.fun quickly gained popularity as a token launchpad for its quick and easy experience. LaunchLab will offer a user-friendly cookie cutter option along with flexible settings.

US Solana ETF Race Heats Up As Cboe Submits Paperwork To List Fidelity SOL Fund

The race for a Solana (SOL) exchange-traded fund (ETF) is intensifying. Fidelity, a major asset manager, is moving forward with plans to launch an ETF based on the sixth-largest cryptocurrency. The Chicago Board Options BZX Exchange (Cboe) has submitted a 19b-4 filing to the SEC on behalf of Fidelity, seeking permission for the "Fidelity Solana Fund". This is a significant step in the approval process, but Fidelity still needs to submit an S-1 registration statement. The filing comes shortly after Fidelity registered a new Delaware statutory trust for its Fidelity Solana Fund.

CME’s Solana Futures ETF Struggles with Low Interest and Declining Volume

The launch of the Solana futures ETF on CME was highly anticipated, but it failed to sustain investor enthusiasm. Data from CME showed that volume started relatively strong on launch day with 225 contracts traded, but it declined quickly over the following days to just 73 contracts. However, open interest started at 150 on March 17 and grew steadily to 294 by March 25, indicating some holding interest despite the volatile volume. The table revealed a total volume of 239 contracts, predominantly in April 2025 contracts, suggesting that just under half of traders are positioned for a month-long exposure.