Solana price don surge on cup-and-handle breakout reach $6,300
Solana price don jump 34% for the last one month reach $193. One textbook cup-and-handle pattern dey for weekly and monthly charts wey show say fit breakout go $4,800–$6,300. Analysts Robert Mercer and Trader Tardigrade talk say dem don confirm handle breakout for $155 and say the main resistance dey for the $250 neckline, and dis pattern get historical 61% success rate. On-chain metrics dey support the bullish case: daily active addresses increase by 9% within 24 hours, daily transactions don start climb parabolically again, plus total value wey dey lock for Solana hit $10.3 billion—this one be six-month high and get 63% gain since April. As SOL now get 6.28% of global DeFi TVL and don increase over 2,400% from its November 2022 cycle low, traders suppose dey watch volume confirmation and on-chain indicators make dem fit confirm momentum and manage risk for short-term entries and long-term positions.
Bullish
For short term, Solana price cup-and-handle breakout signals fit attract momentum traders wey dey target di $6,300 upside. Di historical success rate wey be 61% and rising volume dey add confidence for di pattern. On-chain metrics—9% jump for daily active addresses and six-month high TVL—show say network adoption and usage dey strong. For long term, 2,400% rally since November 2022 low plus sustained DeFi TVL growth mean say foundation solid to support more price gains. But traders gats dey watch di $250 resistance and volume confirmation to manage downside risk because even proven patterns fit fail.