Solana Price Set for Parabolic Jump as Analyst Predicts $1,300 Target

Solana's price has been surging in recent days, rising 6% in the past 24 hours to $105. Analyst Ali Martinez believes this could be just the beginning of a major price increase for SOL, potentially reaching as high as $1,300.

Martinez points out that SOL has built a massive cup-and-handle pattern over the last few years, with the neckline sitting at around $360. A confirmed break above this level could mark the start of a larger expansion in the asset's price.

Additionally, Martinez highlights strong institutional demand for Solana, with spot SOL ETFs recording consecutive green weeks and attracting over $200 million in the past month alone. He also notes that network growth remains elevated and that 3 million tokens were withdrawn from exchanges in the last 30 days.