Price Analysis View Non-AMP

Analyst Peter Brandt Predict Solana Price To Hit $518?

Published by
Yash Jain

Solana price is what people are talking about lately, as in Q2, even polymarket’s odds for Solana have risen from a mere 15% to over 40%.

Taken together, Peter Brandt also forecasted his optimistic opinions for Solana in his recent X post, and gave a target of over $500. The trader’s analysis revealed that the altcoin formed a bullish cup and handle pattern.

Solana Price Prepares For A Bullish Comeback

In a recent interview, ARK Invest CEO Cathie Wood highlighted her views on why Solana is becoming the center of stage for a major crypto innovation. She said, reduced costs, higher developer interest, and advancing adoption are what Solana is checking in all the required metrics.

Also, the recent Q1 report by Messari Average Daily DEX volume grew by 40.8% QoQ to $4.6 billion. This was fueled by renewed memecoin speculation, and also after the TRUMP token launch.

The increasing optimism for crypto is boosting investors’ sentiment, and it appears that the SOL price could be on its way to a magnificent rise ahead.

On the technical side, SOL price has shown a bullish cross between 20-day and 50-day EMA bands, and is exchanging hands at $176, following with 25% gains from May’s low of $141.5.

The uptrend witnessed in Q2 so far has built a rounded bottom bullish structure with a neckline near the $182 supply zone. Therefore, if Solana price pierces this supply zone and sustains above $182 after a daily close, then it could start the next bull run.

As Solana price prepares for a recovery ahead, the analyst Peter Brandt forecasts a cup and handle pattern on the weekly chart, where the pattern has a neckline near $290 and the breakout can give a target of $518, and beyond this, it could go over $700, as well.

Onchain Data Support’s Bullish View on Solana Price

As per defillama charts,  Solana TVL almost reached $12 billion USD in January, but due to geopolitical conditions affecting most altcoins, even SOlana TVL dropped to $6.6 billion in Q1. 

However, in Q2 with rising sentiment and prices, its TVL started rising, and in May it recovered to $9.314 billion. Even the platform saw its user addresses returning, which in Q2 reached 5.82 million. 

However, the stablecoin market cap continued to rise, despite the shakeups, and in May it stands at $11.518 billion.

Moreover, the “percent of stablecoin total supply held by whales with over $5 million USD” has risen, which means major players are building up substantial reserves of deployable capital. 

They could use stablecoins to execute large-volume purchases when they identify favorable entry points or anticipate upward price momentum in Solana. 

In addition, the social volume of the Solana crypto has seen a spike in the last couple of days, with the price rise. This hints at possible rising awareness of crypto among users. 

The increasing social dominance may also have a positive impact on the Solana price as the increasing participation of users may create more demand and assist the price to advance higher.

Yash Jain

Yash is a crypto analyst specializing in price analysis, predictions, and in-depth research reports. He combines technical indicators with on-chain data to uncover market trends and potential breakouts. His sharp insights help readers navigate the crypto market with confidence. Whether it’s Bitcoin or emerging altcoins, Yash breaks it down with clarity and precision.

Recent Posts

Is RXS the Best Low-Cap Bet for the 2025 Bull Market?

Rexas Finance (RXS) listing is finally going live on LBank, BitMart, and MEXC, marking a…

June 19, 2025

Is Ruvi AI (RUVI) the New Ripple (XRP)? Experts Say Its Audited Token Might Reach The Charts Heights This Year

Ripple (XRP) has long been a powerhouse in the cryptocurrency space, providing solutions for cross-border…

June 19, 2025

4 Cryptos You Can’t Ignore in 2025: Shiba Inu’s (SHIB) Replacement Unveiled

Cryptocurrency moves fast, yet one corner keeps popping up again and again: the memecoin scene.…

June 19, 2025

FUNToken Announces Deflationary Update, Achieves Certik Certification

Austria, Vienna, June 19,  2025  - FUNToken, the leading token driving the future of Web3…

June 19, 2025

Solana (SOL) Price to Hit $200 As ETF Approval Nears, Will This Cheap Altcoin Be the Next to Rally?

Solana (SOL) is nearing a potential ETF approval, a move that could send its price…

June 19, 2025

Dogecoin Price Prediction: $0.10 Incoming or $1.25 Moonshot?

Currently, the Dogecoin price mirrors the negative sentiment that has blown through the space, and…

June 19, 2025