Peter Brandt: Solana to grow by 2600% by 2026

Peter Brandt, a technical analyst and head of Factor LLC , predicts that Solana SOL $186.23 Solana -3.60% Market capitalization $89.27 billion VOL. 24 hours $0.94 billion may grow by more than 2600%. Such a price jump could raise the value of the digital token to $ 4500. The crypto expert’s forecast is based on the formation of a cup-and-handle pattern.

Since reaching a cycle low of about $ 8 in November 2022, Solana has already increased in price by 20.5 times. The cup-and-handle pattern involves a U-shaped price recovery that creates a cup shape, followed by a period of consolidation that forms a handle. This pattern indicates a period of indecision when traders are assessing the possibility of continued growth.

Since March 2024, Solana has been consolidating in the $ 100−200 range. According to the rules of technical analysis, the pattern is considered confirmed if the resistance level at $ 205 is broken. This could lead to a price increase to around $ 4500 in 2025−2026, which corresponds to the maximum difference between the low point of the bowl and the resistance line.

Nevertheless, another analyst, Thomas Bulkowski, points out that the expected target is reached only 61% of the time, based on data from 913 observations. Trader Aditya Siddhartha Roy also noted that altcoins often start to rise after bitcoin halving BTC $97,204.13 Bitcoin -0.94% Market capitalization $1.92 trillion VOL. 24 hours $1.83 billion , as the potential for a rise in the price of BTC itself becomes relatively moderate after this event.

Earlier, Standard Chartered analysts predicted a fivefold increase in Solana’s price if Republican candidate Donald Trump wins the US presidential election. At the same time, Bloomberg expert Eric Balchunas estimated the chances of ETF approval for Solana in 2024−2025 as «zero» unless the SEC leadership changes.