Solana price continues to capture attention as SOL price trades near $210.64 after gaining almost 4% in a single day. Market structure is shaping into a pattern that hints at broader possibilities, with investors weighing technical alignment and governance upgrades. With price holding steady and technical patterns aligning, Solana now appears primed to challenge ambitious Fibonacci targets.
Cup-And-Handle Setup Puts $460 In Sight For Solana Price
The weekly SOL price chart reveals a textbook cup-and-handle pattern that has been building since mid-2022. This structure is widely associated with bullish continuation, and the neckline around $275 stands as the immediate hurdle.
A decisive move above this line could open the door to Fibonacci targets near $367 and eventually $460. With Solana current value standing at $210, SOL has displayed steady accumulation rather than sharp selling pressure.
RSI rests near 60, a level that supports continuation without flashing overbought extremes. This aligns with the CoinGape long-term Solana price outlook, which highlights the potential for significant appreciation.
Zooming closer, SOL price has consistently defended higher lows, which typically reinforces the foundation for extended rallies. Resistance between $200 and $220, which previously capped advances, has now turned into a zone of strength.
On-chain volume shows steady support near $190, highlighting that buyers are gradually reclaiming control. The 0.236 Fibonacci retracement at $148 also remains a strong pivot, offering further structural backing below.
If Solana price can flip $275 into support, higher Fibonacci zones like $367 and $460 become the natural targets. Therefore, with technical conviction aligning, SOL price has carved out a bullish path that could soon unfold.
Alpenglow Upgrade Secures Overwhelming Approval
In parallel with chart strength, Solana’s governance vote on the Alpenglow consensus protocol passed with a remarkable 98.27% support rate. This upgrade is designed to cut block finality times to just 150 milliseconds, positioning Solana as the fastest major blockchain in the market.
More than half of the staked supply participated in the vote, underlining strong validator alignment. Faster throughput is expected to improve scalability for DeFi, NFT ecosystems, and real-world applications running on Solana since the upgrade was designed to boost transaction speed.
Institutional players have long favored chains with low latency, and this decision could further cement Solana’s role in the high-performance blockchain arena. By tightening consensus efficiency, Alpenglow enhances confidence from both developers and users. With SOL price already pressing higher levels, the governance win acts as a catalyst that complements the technical breakout narrative.
Summary
Solana price has now reached a point where chart structure and network upgrades work in harmony. The cup-and-handle formation highlights clear breakout potential, while Alpenglow’s approval demonstrates resilience at the protocol level. If SOL price convincingly clears $275, Fibonacci projections suggest extended upside targets as high as $460. Taken together, the evidence strengthens the case for a bullish continuation in the months ahead.
Frequently Asked Questions (FAQs)
This technical formation is widely seen as a bullish continuation setup, signaling potential for sustained upward moves.
The Alpenglow upgrade is a major governance-approved proposal that reduces block finality to 150 milliseconds, boosting Solana’s efficiency.
With over 52% of staked supply voting, strong validator alignment reinforces network stability and long-term ecosystem growth.
Coingape Staff
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