Solana Eyes $6,300 as Network Metrics Hit New Highs

- SOL’s cup-and-handle pattern signals a potential breakout to $6,300. - Rising daily active addresses and TVL fuel bullish momentum. Solana (SOL) is demonstrating strong bullish momentum. On July 21, 2025, Cointelegraph reported that its cup-and-handle chart pattern suggests a breakout target of $6,300. Consequently, analysts are closely monitoring the neckline resistance at $250, as breaching this level could signal further gains for the cryptocurrency. Robust on-chain metrics support this bullish outlook. Daily active addresses on Solana’s network have increased by 9% in the past 24 hours, pointing to heightened user activity. In addition, the total value locked (TVL) in Solana’s decentralized finance (DeFi) ecosystem has surged 63% over the last 15 weeks, reaching $10.3 billion and signaling rising investor confidence. Solana’s price has risen 34% over the past month, hitting a five-month high of $193. While historical data indicates the cup-and-handle pattern achieves its full upside target in about 61% of cases, the recent boost in network activity and monetary inflows strengthens optimism for SOL’s trajectory. As of 18:15 UTC on July 21, Solana (SOL) was trading at $196.42, an 8.75% increase in the last 24 hours. During the same period, its trading volume surged by 82.96%, which emphasizes heightened market interest and participation. Technical indicators align with strong fundamental growth, presenting a compelling narrative for investors. However, the historical probabilities of technical patterns suggest a note of caution.