Solana Price Surge Could Reach $1,315 as Breakout Targets Approaching

Solana’s price has surged past a long-term resistance level, pushing towards the $1,315 mark. This bullish breakout is driven by expanding decentralized finance (DeFi) applications and increased institutional investment, according to analyst Ali. Analysts note that this move aligns with a textbook cup and handle pattern that emerged in late 2021. The price rose from below $8 per coin in late 2022 to reach resistance levels around the $295.11 mark before forming a descending channel, eventually leading to the recent breakout.