Solana (SOL) could rally toward $150 in the coming weeks as a bullish continuation pattern develops on its daily chart alongside a sharp revival in memecoin activity across the network.
SOL Bull Pennant Points to $150
SOL was trading near $100.64 on Sept. 15, following a strong recovery from roughly $74 in mid-August.
The rebound pushed Solana above several key moving averages before momentum cooled near $108. Since then, SOL has been consolidating between a descending resistance trendline and a rising support trendline, forming what appears to be a bull pennant.
Bull pennants typically emerge after sharp price advances and indicate that traders are taking profits while the broader uptrend remains intact.
A decisive daily close above the pennant’s upper trendline, currently near $103-$105, could confirm the breakout. Adding the height of the preceding rally to the breakout point produces a technical target near $150, representing approximately 45%-50% upside from current levels.
SOL is also holding slightly above its 20-day exponential moving average (20-day EMA, green) near $99.93. Meanwhile, its 50-day (red) and 100-day (purple) EMAs sit lower at approximately $92.70 and $87.78, respectively, reinforcing the broader recovery structure.
Conversely, a sustained break below the $98-$99 area could weaken the pennant setup and expose SOL to its 50-day EMA near $93.
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See all Solana forecastsPump.fun Activity Signals Return of Solana Speculation
The bullish technical setup comes as speculative activity returns to Solana’s memecoin ecosystem.
Pump.fun, one of the network’s largest token-launch platforms, recorded roughly 34,184 new token launches on Sept. 10, representing about 85% of launches across tracked Solana launchpads that day.
The resurgence is also showing up in revenue.
Pump.fun has generated roughly $89 million in gross protocol revenue during the third quarter so far, according to DefiLlama data. That is already exceeding the approximately $79 million recorded throughout Q2.
Daily activity also accelerated in late August, when the platform generated around $2.4 million in fees on Aug. 25, marking its strongest daily performance in nearly a year.
Rising launchpad usage suggests traders are once again willing to deploy capital into high-risk Solana-based assets.
If that speculative demand persists while SOL confirms its bull pennant breakout, the combination could strengthen the case for a move toward the $150 technical target.
