Solana Price Forecast: SOL Signals a 40% Breakout Move Ahead

Solana Price Forecast: SOL Signals a 40% Breakout Move Ahead Yashu Gola Mon, July 20, 2026 at 3:05 PM GMT+2 2 min read SOL-USD Solana's SOL token is forming a cup-and-handle pattern on its daily chart, raising the possibility of a rally toward $105–$106. However, weak memecoin activity and the recent BONK governance attack could slow the breakout. SOL Cup-and-Handle Breakout Targets $105 SOL was trading near $76.

75 on July 20 after spending more than a week consolidating below the $80–$81 resistance zone. The consolidation appears to be forming the "handle" portion of a cup-and-handle pattern. The setup forms when price undergoes a rounded recovery, creating the cup, before entering a smaller downward-sloping consolidation called the handle.

Traders typically consider the pattern confirmed once the price closes above the neckline resistance. Solana's cup began forming after its late-May decline from around $82. SOL then fell toward $59 in June before recovering to approximately $81 in early July.

Solana's daily price chart showing the cup-and-handle setup. Source: TradingView The $80–$81 neckline overlaps with SOL's 100-day exponential moving average (100-day EMA, purple) near $80. 45.

A decisive daily close above this confluence, preferably alongside higher trading volume, would confirm the bullish breakout. Adding the cup's roughly $24 depth to the breakout point produces a technical target near $105–$106, about 40% above current prices. SOL may first encounter resistance at its 200-day EMA (blue) near $93.

84. Meanwhile, its 20-day (green) and 50-day (red) EMAs are converging around $76. 42 and $76.

57, respectively, creating immediate support. The daily relative strength index is near 52, reflecting neutral momentum and leaving room for another advance. A close below the handle support near $74 would weaken the setup.

A deeper drop below $69–$70 could invalidate the immediate breakout outlook and expose SOL to a retest of $65. BONK Hack and Low Pump Activity Threaten Momentum Despite the bullish setup, Solana's memecoin ecosystem remains under pressure. An attacker recently accumulated enough BONK voting power to pass a malicious governance proposal that transferred an estimated $20 million in BONK tokens from the BonkDAO treasury.

BONK's confirmation on X about the hack The incident did not compromise the Solana blockchain, but it may have damaged confidence in one of its most visible memecoin communities. Pump-related activity has also cooled sharply. Pump.

fun, PumpSwap, and Terminal daily revenue. Source: Blockworks Pump. fun's bonding-curve revenue is now below $1 million per day, compared with peaks near $7 million.

PumpSwap revenue has fallen toward roughly $200,000–$300,000 from a peak near $880,000, while Terminal revenue has dropped toward $50,000 from highs near $250,000. Story Continues The slowdown suggests speculative demand is no longer supporting Solana as strongly as during previous memecoin booms . This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Outlook: Why European Gas Prices Could Become the Euro's Biggest Driver Bitcoin Price Prediction: BTC Could Still Rally to $74K as Whales Keep Buying DEXE Price Plunges 30% From Record High: Can This AI Crypto Rebound?

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