Analyst Predicts Solana Price Rally to $2700 As SOL ETF Approval Odds Hit 99%

Solana price might be on the verge of a parabolic bull run to $2,700, according to a renowned market analyst who detected a breakout from a cup and handle pattern. The analyst’s bullish take comes as SOL continues to record gains alongside the broader crypto market.

Cup and Handle Breakout May Push Solana Price to $2,700

In a recent X post, Ali Martinez noted that a 1,500% Solana rally to $2,700 is about to happen as a giant pattern that has been forming since 2022 makes a breakout. Per this analyst, this breakout was a signal that SOL was about to “melt faces” by outperforming the rest of the market.

This cup and handle shows that the Solana price has just gone through a deep correction phase that started after the crash caused by the FTX collapse. This first stage of this correction phase ended in 2023 before the rally that pushed SOL to an all-time high price of $294 in January 2025 happened. However, as traders started to sell at the top, it led to a downward consolidation that eventually formed the pattern’s handle.

The downward consolidation is now ending as the price tests the resistance of the falling channel, which is a sign that a larger upward trend is on the verge of starting. The depth of this cup indicates that such a move could propel the SOL price to the 161.8% Fibonacci level of $2,700.

However, before this bullish Solana price forecast plays out according to the analyst’s projections, there are multiple barriers that it needs to overcome, including the previous high of $294 and another resistance at $787. The other crucial resistance lies at the 141.4% Fibonacci level of $1,314.

ETF Approval, Institutional Interest, Regulations May Drive SOL Rally

While a SOL price rally to $2,700 might seem far-fetched, several factors suggest that such a move might pan out in the coming years. One of these factors is the looming approval of a spot SOL ETF, as data from Polymarket shows that the odds of this product getting regulatory greenlight before the end of 2025 are at 99%.

A spot SOL ETF will attract a lot of demand, with the evidence of this being the recent performance of the Rex Shares SOL staking ETF that eclipsed the XRP futures ETF on its first day of trading. The ETF was launched earlier this month, and it had amassed a net value of $42 million at press time.

The ongoing wave of crypto treasuries has also spilled over to Solana, after DeFi Development Corp emerged as the biggest SOL holder after its recent purchase of more than 153,000 tokens. If such buying activity continues, the Solana price may record notable gains in the future leading towards the cup and handle target of $2,700.

Meanwhile, the crypto market is rife with expectations that the US House may pass the GENIUS Act and other crypto-friendly bills that will advance the adoption of the Solana token and blockchain. This may also be among the factors that could support the 1,500% SOL price rally to $2,700.

Therefore, while a Solana price rally to $2,700 per Martinez’s prediction could take months or even years to happen, several bullish factors indicate that it is likely to happen.