Experts are predicting that Solana’s price may make a substantial leap, potentially reaching $4,500. This forecast relies on the cup and handle pattern observed in Solana’s charts. With strong fundamentals, SOL is displaying a positive outlook alongside recent price increases.
Potential for Price Increase
A distinct cup and handle pattern has emerged in Solana’s weekly chart. This model suggests that the price of SOL could increase by 2,600% to reach $4,500. The cup and handle formation typically indicates a continuation of upward momentum. Following the collapse of FTX in 2022, SOL plummeted from $206 to $9.20, but now shows signs of recovery with this formation.
Solana’s Position in the DeFi Ecosystem
Solana 
$257 leads in decentralized exchange (DEX) volume compared to other chains. According to DeFiLlama data, Solana’s network holds the top position in daily and weekly trading volumes. Within the last 24 hours, the Solana network achieved a DEX trading volume of $2.17 billion, surpassing Ethereum’s $1 billion during the same period. Analyzing weekly data, Solana also exceeds Ethereum’s volume of $8.8 billion with $12.8 billion.
These figures indicate Solana’s growing preference in the DeFi ecosystem, potentially challenging Ethereum’s market share. In bull markets, Solana has been performing better than Ethereum 
$3,345, with SOL rising 63% since the start of the year, while ETH increased by only 17%.
Short-Term Expectations
By the end of this month, Solana’s price is expected to reach the $190-195 range. Analysts predict that Solana could trade between $230 and $250, approaching its previous highs. Long-term, forecasts suggest Solana may achieve four-digit figures within the next year, potentially marking the peak of the bull market. Strong fundamentals and leadership in the DeFi ecosystem continue to support Solana’s price increase.
In conclusion, Solana presents significant long-term potential for investors. Its revenue-generating capabilities and developments within the ecosystem can shape price movements.
