Solana Rally Targets $130 as Analysts Predict Long-Term Breakout
Solana (SOL) rose 6% in 24 hours to about $105 as the wider crypto market recovered. Analyst Ali Martinez said SOL held support after falling from $101 to roughly $95.60 following the US Senate’s failure to advance the CLARITY Act.
Martinez cited strong institutional demand, with spot SOL ETFs attracting more than $200 million over the past month and recording several consecutive positive weeks. Around 3 million SOL tokens were also withdrawn from exchanges in the past 30 days, while network growth remained elevated.
Martinez identified $105 as a key resistance level. A sustained close above it could confirm a bull-flag breakout and push SOL towards $130. He also described a multi-year cup-and-handle pattern, suggesting that a move above the estimated $360 neckline could eventually target $1,300.
Other market commentators also highlighted improving momentum. CRYPTOKRALI said SOL had broken above a descending resistance line and was holding $98 as support, with $110 as the next level to watch. Scient expects another move towards $130 before reducing 50% of their spot holdings and potentially buying again near $90. These forecasts remain technical scenarios rather than confirmed outcomes.
Bullish
The immediate market view is bullish because SOL has recovered quickly, reclaimed the $105 area and is supported by reported ETF inflows and exchange outflows. A sustained close above $105 could attract momentum traders, with $110 and $130 as near-term technical targets. Exchange withdrawals may also reduce immediately available supply, although they do not guarantee long-term accumulation.
The longer-term case is more speculative. Martinez’s $360 neckline and $1,300 target depend on a large cup-and-handle breakout that has not yet been confirmed. The failed CLARITY Act vote also shows that regulatory uncertainty can trigger sharp, short-lived corrections. Similar crypto rallies have often accelerated after resistance breaks, but they have also reversed when volume, ETF flows or broader market sentiment weakened.
Traders should monitor whether SOL holds $98 and $105 as support, ETF net flows, exchange balances, trading volume and Bitcoin-led market direction. A break below $98 could weaken the bullish setup and expose the market to a move towards the $90 area. Therefore, the short-term bias is bullish, but volatility and downside risk remain high, particularly near the $130 target.