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Highlights
- An analyst forecasts that Solana price may rally to between $400 and $500 this cycle after detecting a hidden bull fractal.
- Per the analyst, Solana is repeating a Q3 2023 bull pattern that previously fuelled a 5x price rally.
- Solana network activity is also surging after app revenue and DEX volumes increased by 22% and 32%, respectively, last month.
An analyst has identified a hidden Solana (SOL) price fractal that suggests the altcoin could rally to between $400 and 500 this cycle. The analyst’s bullish forecast on Solana price aligns with a recent research report stating that the SOL blockchain outperformed all layer one networks after recording the highest app revenue.
Analyst Forecasts Solana Price Rally to $400 This Cycle
SOL price remains under bearish pressure today, June 5, as the downtrend that started last week continues after concerns of a Solana whale moving 2.8 million tokens to exchanges. At press time, SOL trades at $153 with a 4% intraday loss.
Despite the ongoing price decline, analyst Cas Abbe on X notes that Solana’s 3-day price chart shows a hidden price fractal that could fuel an upside. He observed that the price of SOL had yet to achieve its peak this cycle.
Abbe stated that the current choppy price moves that commenced in late 2024 mimic the performance of this altcoin in Q3 2023. During this period, Solana consolidated within a symmetrical triangle pattern before breaking out and rebounding. This rebound sparked an over 5x rally for the Solana price.
In November 2024, Solana broke out of a similar bullish triangle pattern before the price retreated in the last three months, similar to what happened in Q3 2023. Now, SOL is showing signs of breaking out, and once this is confirmed, the analyst stated that the price may rally past $400 this cycle.
This bullish outlook aligns with a recent analysis by CoinGape identifying the formation of a V-shaped recovery pattern. Per the analysis, Solana price eyes a bullish reversal to $295 once this V-shaped recovery pattern matures.
Network Activity Surges
As the bullish technical structure on SOL price takes shape per analyst forecasts, a recent report by Blockworks Research has noted that the Solana blockchain has outpaced all layer one networks. Last month, this network toppled Ethereum and other rival networks in terms of revenue and other data.
During the month, revenue generated by apps on Solana surged by 22% month on month to $214 million. Most of these volumes came from the PumpFun meme coin launchpad.
Meanwhile, DEX volumes also increased by 32% month-on-month, while Real Economic Value surged by 37% to $121 million. This growth was notably higher than that of other competing networks.
Bottomline
A top analyst on X forecasts that the Solana price could rally to between $400 and $500 this cycle. The analyst observed a price fractal that could spark a 2x to 3x rally for SOL if history repeats itself. Meanwhile, the Solana blockchain recorded significant growth in May 2025 and outperformed other networks in app revenue and DEX volumes.
For a more detailed forecast on Solana price performance between 2025 and 2030 – Read This
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