Crypto
Solana Price Reclaims $117, Analysts Eye Cup and Handle
Solana price climbed back to $117 as the crypto market recovered, with analysts pointing to a $100 on-chain floor and a years-long cup and handle.
1d ago 4,280
BLOCKINSIDERLoadingSolana price climbed back to $117 as the crypto market recovered, with analysts pointing to a $100 on-chain floor and a years-long cup and handle.
The crypto market has spent the past week proving it could absorb bad news. After the Senate blocked the CLARITY Act and the Federal Reserve raised rates for the first time since 2023, Bitcoin rallied to an eight-month high of $85,134 on 21 September, per Yahoo Finance data.
Falling oil prices, a strong weekly close, and short sellers caught on the wrong side reportedly drove the turn. Ethereum followed, and so did Solana. For SOL, the recovery has brought it back to a level traders have been watching for weeks, and put a much bigger chart pattern back in the conversation.
SOL traded at $117.41 on 22 September 2026, as per CoinGecko data, with 24-hour trading volume of about $5.49 billion.
That puts it well above its previous close of $108.22, after moving in a day range of $110.91 to $117.33, according to Investing.com data. It also caps a weekly close of $116.29, up 4.53%, on Binance's weekly chart.
The move is a recovery rather than a breakout. SOL still trades far below its 52-week high of $237.63, and roughly double its 52-week low of $60.20.
Solana, a high-speed blockchain often used for trading and payments, has also added real-world adoption this month. Column, an FDIC-insured US bank, built stablecoins directly into its banking core with Solana as the default network, according to Yahoo Finance.
The first thing analysts are pointing to is where buyers have already committed.
On-chain data shows Solana has built a major support floor around $100, with more than 40 million SOL traded at that level, according to analyst Ali Martinez of Ali Charts. A price where that much supply changed hands tends to act as a cushion, because holders who bought there are less likely to sell at a loss.
In practical terms, $100 is the level that has to hold for the recovery to stay intact. A break below it would put that cushion under pressure.
The bigger debate is on the weekly chart.
A cup and handle is a chart pattern where price forms a rounded bottom, recovers, dips briefly into a smaller pullback, and then attempts to break higher. Traders read it as a sign of accumulation before a larger move.
Veteran trader Peter Brandt shared a weekly Solana chart on 21 September labelling exactly that structure, with the cup forming from the 2022 lows and the handle forming through 2026. He described it as "a very significant possible longer term look at $SOL."
Martinez sees the same shape and puts numbers on it. He places the neckline, the level that would confirm the pattern, near $360. He wrote on 18 September,
"A confirmed breakout above that level could mark the beginning of a much larger expansion toward $1,300."
Two caveats matter here. First, the two readings do not agree on the neckline. Brandt's chart marks resistance near the prior cycle highs, well below Martinez's $360. Second, Brandt called it a "possible" look. A pattern spanning several years is a long-horizon hypothesis, not a forecast, and $360 sits above anything SOL has traded at.
The nearer-term view is more measured. Analyst Daan Crypto Trades flagged the move to $117 as the level that matters now. According to him,
"If SOL can retake this range we can start aiming for higher. Big level but the trend is up and I don't think this wants to stop yet."
That frames the path clearly. Holding and building above $117 would confirm the recovery and bring the $150 area and then the 52-week high into view over time. Failing to hold it would likely send SOL back toward the $100 floor, where the on-chain support gets its first real test.
The wider market is the swing factor. Solana has moved with Bitcoin through this recovery, and the next macro marker arrives on 7 October, when the Fed releases minutes from its September meeting. Until then, the weekly close above $116 is the clearest sign that the handle may be ending, even if the $1,300 case remains a long way off.
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