Solana Price Surges to New High Amid Strong On-Chain Support

Solana's price has been on an upward trend, rising 15.9% over the previous week to reach $117.25 on October 1.

Analysts have identified a key support zone at $100, where at least 40 million coins have changed hands, indicating strong on-chain support.

A cup-and-handle pattern has been spotted on Solana's weekly chart, with its neckline near $360.

If SOL reaches this target, analysts predict it could eventually hit $1,300 in the long term.

The cup-and-handle pattern is also visible on Solana's five-year chart, which is nearing a resolution after an extended consolidation period.