Solana may be gearing up for a bull run, having risen from around $125 to its current price above the $151 support level.
Some crypto market analysts are projecting an incoming bullish run for Solana SOL $135.9 24h volatility: 3.2% Market cap: $76.66 B Vol. 24h: $4.98 B . Their strong conviction is informed by the multiple bullish technical patterns that the altcoin is displaying.
Should this sentiment become a reality for Solana, it could surpass key resistance levels.
Solana Forms Double Bottom Pattern For Bull Run
SOL price has now reached $151.62, following a 2.27% increase within the last 24 hours. This suggests that the coin is building momentum, particularly given its previous price level of $125 a few weeks ago. At that time, SOL formed several reversal patterns across time frames.
From a low of $125.99, the SOL price made a sharp rebound, creating a double bottom formation around $141.84.
This price level provided strong support for Solana, while the double bottom pattern suggested that bears were unable to push prices lower after two attempts.
On July 4, Solana traded around $151 following short-term gains. In the days after, the price climbed 6% to a high of $153 before dipping back to $151.71. Meanwhile, SOL’s trading volume jumped 119.64% in the past 24 hours.
This core metric currently stands at $3.47 billion, demonstrating a renewed interest from buyers. Also, the SOL market capitalization is now at $81.24 billion.
Cup and Handle Pattern for Solana
Ali Martinez, also known as ali_charts on X, has identified a large cup-and-handle pattern that has persisted for several months on high-time frames on Solana charts.
It first started with a rounded bottom that was formed between late 2022 and mid-2023. With buyers regaining control of the market, the right side of the cup showed some signs of development.
If this market is gearing up for a second leg up, Solana $SOL could benefit BIG TIME! pic.twitter.com/qIno9wTuQk
— Ali (@ali_charts) July 3, 2025
Currently, the handle portion of the pattern is forming within a narrow descending channel.
While Martinez claimed that the neckline of this pattern lies in the $160 to $175 range, it is worth noting that the SOL price is currently consolidating just below this resistance area. On other levels, Solana is performing better than a number of its counterparts.
The “Solana Ecosystem Report H1 2025,” which Helius released a few days ago noted that it successfully outperformed several major digital assets in both Real Economic Value (REV) and DEX volumes during the first half of 2025.
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