Solana (SOL), the 6th largest cryptocurrency by market cap, is flashing signs of a major breakout, with analysts calling for explosive upside if key resistance is cleared.
As of June 10, SOL is trading at $158.20, up +4.55% in the last 24 hours. The token now boasts a market cap of $83 billion, with nearly $3.9 billion in trading volume in the past day.
On-chain crypto expert Ali Martinez sees potential for a massive rally. In a post on X, Martinez wrote:
“Solana SOL breaking above $200 could catalyze a major 5X to 10X bull run!”
His chart suggests a classic cup-and-handle pattern forming on the long-term SOL chart, a setup that historically precedes powerful bullish moves if confirmed by a breakout.
Solana support and resistance
At present, SOL faces key resistance at the $200 level. Clearing this level on strong volume would validate the pattern and open the door for significant upside, according to Martinez.
Support meanwhile remains strong around the $125–$130 zone, which has held firm on multiple tests this year.
Some market voices, however, are striking a more cautious tone. Crypto analyst AliferCrypto commented:
“I agree with that cup, but measuring the target on log scale seems overreaching. I’d stick to a more conservative/realistic linear target, which would be ~$510.”
In either case, SOL bulls appear to be building momentum as the token edges closer to the critical $200 mark. Traders and long-term holders alike will be watching closely in the days and weeks ahead for any confirmation of the breakout.
Featured image via Shutterstock
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