$SOL

Solana (SOL) is indeed in a strong bullish phase right now—a mid‑to‑late‑July breakout rally has pushed it past $200, fuelled by a convergence of on‑chain, fundamental, and technical momentum:

🚀 What’s Driving the Jump

New tech upgrade – Jito’s BAM: Solana surged nearly 9–12% in the past 24 hours after the rollout announcement of Jito Labs’ Block Assembly Marketplace, enhancing transaction efficiency, reducing MEV, and drawing investor confidence .

Institutional inflows & derivatives: Over $11M in shorts were liquidated, and weekly crypto fund inflows hit around $39M, signaling strong institutional interest .

Key resistance broken: On‑chain indicators and chart patterns confirm a breakout above the $200 level, with bulls targeting next resistance zones between $218–$250 .

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📈 Technical Picture & Targets

Bullish “cup‑and‑handle” breakout: Analysts spot a multi‑month cup‑and‑handle structure forming on weekly/monthly charts—crossing above ~$250 could target $4,800–$6,300 (a theoretical 3,000% gain) .

Momentum still strong: Despite a recent 35% rally in July and #5 ranking by market cap (≈ $103B), volume and metrics like MVRV show continued upside, though some traders warn of “optimism–anxiety” ahead of key $206 resistance .