- Solana’s cup-and-handle pattern hints at a breakout if it surpasses the $210 resistance.
- Technical indicators show mixed signals, with RSI near oversold and MACD in bearish territory.
- Institutional interest grows as potential Solana ETFs could attract $3B–$6B in inflows.
Solana (SOL) is currently forming a bullish cup-and-handle pattern, a technical setup that could propel its price to new highs. According to analyst Ali Martinez, this classic formation is taking shape after recovering from the 2022 bear market. With resistance near $210, SOL has completed the cup portion and is now developing the handle, a phase marked by a corrective pullback.
If Solana successfully breaks above this resistance with strong volume, it could trigger a sharp rally toward the projected price range of $3,200–$3,800. However, failure to hold key support between $125 and $150 might delay this anticipated breakout.
#Solana $SOL is shaping up into a textbook cup-and-handle pattern! If confirmed, this setup could propel it toward $3,800. pic.twitter.com/4ZctNPwijp
— Ali (@ali_charts) March 14, 2025
Technical Indicators Suggest Caution
As of press time, Solana trades at $126.90, reflecting a 1.62% increase over the last 24 hours but an 11.10% decline over the past week. Despite the overall bullish pattern, technical indicators suggest cautious optimism.
The Relative Strength Index (RSI) stands at 39.39, hovering near oversold conditions. This signals weakening momentum but also hints at a possible reversal if buying pressure intensifies.
The Moving Average Convergence Divergence (MACD) indicator remains in negative territory, with the MACD line below the signal line and red histogram bars indicating continued selling pressure.
Institutional Demand and Potential ETF Filings
Aside from the technical outlook, institutional interest in Solana is rising. Nate Geraci, president of The ETF Store, believes BlackRock will likely file for a Solana exchange-traded fund (ETF).
I’m ready to log formal prediction…
— Nate Geraci (@NateGeraci) March 14, 2025
BlackRock will file for *both* solana & xrp ETFs.
Solana could be any day. Think xrp once SEC lawsuit concluded.
This move would prevent competitors from dominating the market for top altcoins. The growing demand for crypto ETFs has already led asset managers like Grayscale, Bitwise, Franklin Templeton, VanEck, Canary Capital, and 21Shares to submit applications for Solana-related investment products.
Projected Market Impact
According to JPMorgan’s analysis, Solana ETFs could attract $3 billion to $6 billion in inflows within 6 to 12 months. This estimate is based on the adoption trends seen in Bitcoin and Ethereum ETFs.
If such inflows materialize, they could provide additional fuel for Solana’s anticipated breakout. Meanwhile, XRP, another leading non-stablecoin asset, may also see an ETF filing after the conclusion of Ripple’s ongoing legal battle with the Securities and Exchange Commission.
