- Solana price textbook cup and handle formation suggests a potential move to $257-$300
- The Federal Reserve’s 25 basis point rate cut to 4.5% on Wednesday has sparked optimism for risk assets like Solana.
- The Bitwise Solana ETF (BSOL) recorded $56 million in first-day volume on October 28, the highest among 2025 ETFs.
Solana price has risen 0.2% in the last 24 hours to trade at $195.73 as of 3:53 a.m EST on a 25% surge in trading volume to $9.4 billion.
This happens as the Federal Reserve announced a 25 basis point interest rate cut on Wednesday, easing monetary policy to support economic growth amid lingering inflation concerns.
The decision, which trimmed the benchmark rate to 4.5%, was widely expected but still sparked optimism among investors.
Solana Price Shows Strength Amid Easing U.S. Economy
For Solana (SOL), the news couldn’t come at a better time. Trading at around $196 as of Thursday morning, the blockchain coin is now eyeing a potential 31% jump to $257, after forming a bullish technical chart pattern.
This target aligns with broader market enthusiasm, as lower rates typically flood capital into riskier assets like crypto. The Fed’s pivot is a green light for altcoins, and Solana, with its speed and low fees, stands to benefit most from renewed investor appetite.
Additionally, the Bitwise Solana ETF (BSOL) launched on October 28, recorded a $56 million first-day volume, the highest among 2025 ETFs. It subsequently saw $72 million on October 29.
Further, Fidelity removed its Solana ETF delaying amendment, moving towards an auto-effective launch. Similarly, VanEck and Canary Funds have updated their Solana ETF filing, likely targeting mid-November.
After the debut of two Solana ETFs on the U.S market, the crypto community is anticipating major price moves from the token as it chases the ETF hype. Will it reach $200?
Solana has been on a tear lately, up over 60% year-to-date despite choppy waters earlier in 2025. The network’s real-world traction (from DeFi apps to NFT marketplaces) has drawn in developers and users, pushing daily transactions past 50 million. But it’s the charts that are really turning heads right now, painting a classic bullish setup.
Solana Price Shows Strong Breakout from Cup and Handle Pattern
The price of SOL is displaying a textbook cup and handle formation on its 3-day chart, a bullish pattern that suggests continued upward momentum ahead.
The cryptocurrency formed a rounded “cup” bottom between January 2025 and October 2025, with prices dipping as low as $95.26 before recovering. This gradual U-shaped recovery demonstrates a healthy consolidation phase where sellers were exhausted and buyers regained control.
Following the cup formation, SOL created a “handle” – a smaller consolidation period near the $240 resistance level. The recent breakout above this key level at $196.18 (up 0.2%) confirms the pattern and signals potential for further gains.
Momentum Indicators Paint a Bullish Picture
The Relative Strength Index (RSI) sits at 48.04, indicating neither overbought nor oversold conditions. This neutral reading suggests room for additional upside before reaching excessive levels. The cryptocurrency has gained an impressive 63.87% from its recent lows.
Based on the cup and handle pattern, the measured move projects a potential target around $295-300, calculated by adding the depth of the cup to the breakout point. The shaded resistance zone around $250-260 represents the first major hurdle.
Volume increase during the breakout phase would lend credibility to the move. However, traders should watch for any failure to hold above the $240 level, as this could invalidate the bullish setup.
The technical picture remains constructive for Solana bulls, though crypto markets remain volatile and prone to sudden reversals.
Is Now a Good Time to Buy Solana?
This pattern, combined with the Fed’s rate relief, could propel SOL past its all-time high of $260 from 2021. Yet, not everyone’s popping champagne. Critics point to Solana’s history of network outages and competition from Ethereum’s upgrades. It’s promising, but one Fed cut doesn’t fix everything.
Looking ahead, eyes are on Friday’s jobs report, which could influence the Fed’s next steps. For now, Solana bulls are betting on blue skies.
Disclaimer: The facts and analysis presented here are only for informational purposes. Readers should not interpret the content of this article as financial advice or product recommendations.
