Solana Could Hit $210 With Cup and Handle Breakout Ahead

• Solana forms a classic Cup and Handle pattern on the weekly chart.
• ETF launch drives strong institutional demand and an increase in trading volume.

Solana (SOL) is showing signs of a potential breakout as technical patterns and institutional interest converge. Crypto analyst Ali Martinez reported that Solana’s weekly chart displays a textbook “Cup and Handle” formation.

The cup portion began forming in mid-2022, creating a rounded bottom through early 2024. Since then, SOL has formed a descending handle, continuing into 2025. Martinez suggested this structure reflects waning selling pressure and a likely accumulation phase.

According to Martinez, a breakout could occur if SOL surpasses the $210 resistance level. Such a move could push the token toward its all-time highs, backed by the bullish setup.

At the time of the report on July 3, SOL was trading at $155.54, up 1.41% on the session.

Solana Shows Strength After Bounce From Support

Solana continued to show strength on July 3, 2025, trading at $154.30 with a 1.30% intraday gain. The token bounced from recent lows of $140, reaching an intraday high of $156.42. This price recovery came alongside a trading volume of 343,000, which supported the upward move.

The Relative Strength Index (RSI) rose to 53.95, moving above the neutral 50 level. It also crossed above its moving average at 45.62. Resistance remains near $160–$165, where SOL has faced rejection before.

 A confirmed break above this zone could open the path to $180. Support is now forming around the $145 level.

REX Osprey SOL ETF Launches With Strong Demand

The REX Osprey SOL Staking ETF (SSK), the first U.S.-listed spot Solana staking ETF, launched on July 1, 2025. On its second day, it posted $33.7 million in trading volume, closing at $25.90. 

With $25.58 million in seed capital, SSK has already outperformed the Solana futures ETF (SOLZ), which only reached $1 million on its debut. Bloomberg ETF analyst Eric Balchunas said the ETF’s volume places it in the top 1% of all ETF launches. 

While still trailing behind early volumes of Bitcoin and Ethereum ETFs, SSK’s performance reflects growing institutional interest in Solana. The ETF has a 0.75% expense ratio and allows investors to gain exposure to Solana’s staking ecosystem.