Solana (SOL) Price Prediction: Total Lock-up Position Value Surpasses $9 Billion, Market Structure Tests New Zone at $189

Solana (SOL) continues its rising trend, reporting at 179 USD during the Asian early trading session today (21). The token surged 10.9% last week, with the market structure testing the new area of 189 USD, and the total lock-up position (TVL) growing to 9 billion USD.

The recent rise of SOL aligns with the strengthening of on-chain fundamentals, including the total locked value increasing from 6 billion USD to over 9 billion USD, as well as the number of returning active wallets exceeding 3.3 million users.

(Source: Dune Analytics)

Technical analysis shows that SOL is in a critical battle between the discount zone and the premium zone, currently testing the balance around 179 dollars.

Cryptocurrency has been consolidating in the range of $145 to $175, but recent price movements suggest that this consolidation may be approaching an upward target.

The changes in characteristic signals from March to April indicate a potential trend reversal, followed by a structural breakout confirmation, validating the lower demand.

Long-term analysis shows that an extraordinary cup-and-handle pattern spanning multiple years is forming, and SOL has the potential to break through the historical high of 295 dollars.

Market Structure Test 189 Dollar Breakout Zone

The 4-hour chart of Solana shows that SOL is testing the upper boundary of its equilibrium area, with a key resistance level at $189, representing a crucial breakout point.

(Source: Trading View)

The volume distribution analysis shows that the support base is strong, with the high volume node around 145 dollars being a clear evidence.

Once the resistance is removed, thin trading above the current level usually leads to accelerated market volatility.

The Federal Reserve paused interest rate hikes, and the market expects a rate cut of 30-50 basis points by Q4 2025, creating a favorable liquidity environment for high beta assets like SOL.

The direct targets after breaking through the $189 level include resistance levels at $235 and $263, with analysts predicting an extension to $295, $360, and $402.

Specific catalysts for Solana, including strong developer metrics and institutional partnerships, provide fundamental support for achieving these higher technological breakthroughs.

Weekly cup handle points reach 295 USD

The weekly chart of SOL shows the enormous cup and handle pattern that has been forming for years, representing one of the most bullish continuation patterns in technical analysis.

(Source: X, Trading View)

The cup pattern indicates that SOL rebounded to a high of 260 dollars, followed by gaining rounded bottom support in the range of 80-120 dollars, and then recovering to form a classic accumulation structure.

Currently, SOL seems to be forming the handle part by pulling lightly from the edge of the cup.

This final consolidation phase usually precedes the explosive breakout of the pattern.

The goal of measuring the mobile forecast is to set a new historical high of 295 dollars, and the calculation method is to take the depth of the cup and project it upwards from the breakout level.

In addition, with the coordination of easing policies by central banks around the world, global liquidity has improved, supporting the "second wave of liquidity surge," which is beneficial for cryptocurrencies.

As the SOL model approaches completion, developments in regulatory clarity such as the "GENIUS Act" provide additional tailwinds for altcoin allocation strategies.