Key takeaways:
Previous SOL/BTC golden crosses have led to 1,000% surges in the SOL/USD pair.
With an altseason environment and nearly $3 billion in new treasury investments, Solana’s future seems promising.
Solana (SOL) is currently exhibiting a rare golden cross against Bitcoin (BTC), a formation that has historically triggered sharp rallies in both BTC and USD.
Past SOL golden crosses led to 1,000% gains
On Thursday, the 50-day simple moving average (50-day SMA; the red line) of SOL/BTC was set to rise above the 200-day SMA (the blue line), confirming a golden cross formation.
“We’ve seen this before in 2021, 2023, and it’s shaping up again in 2025,” noted analyst Ran Neuner, adding that the setup is “signaling a significant move in SOL.“
In early 2021, the first golden cross for SOL/BTC led to approximately a 1,900% increase against Bitcoin. The second golden cross in mid-2023 produced similar results.
Additionally, SOL/BTC’s ascent coincided with significant increases in the SOL/USD pair. For instance, after confirming a golden cross in 2021, Solana surged 1,890% against the US dollar, rising from $13 to over $260.
Solana also experienced gains over 1,000%, rebounding from around $20 to above $250 after the second SOL/BTC golden cross in 2023.
These SOL/USD and SOL/BTC uptrends have previously coincided with broader “altseasons,” when capital shifts from Bitcoin to high-beta tokens.
In 2021, Solana’s rise occurred amid the DeFi boom that positively impacted the entire altcoin market. The 2023 move followed a similar trend as liquidity from the post-FTX recovery flowed into altcoins.
This year, the situation appears equally favorable. Ether (ETH) has outperformed Bitcoin in recent months, often seen as a precursor to robust altseason activity.
Moreover, historical Bitcoin halving patterns suggest that liquidity growth and capital rotation usually intensify a year post-halving, a trend that could again pave the way for a significant Solana rise.
Solana megaphone pattern suggests $300
Solana (SOL) is currently fluctuating within a broadening wedge, or megaphone pattern, with the upper trendline projected near the $295–$300 range as the next significant resistance by October.
This formation occurs as SOL/USD remains well above its 50-week and 200-week EMAs (exponential moving averages), while the weekly RSI stands at a bullish 61, indicating potential for further price momentum.
Fibonacci retracement levels also support the $295 area as a key breakout point.
From a fundamental perspective, Solana’s outlook is bolstered by increasing demand from corporate treasuries.
This week, Galaxy Digital, Jump Crypto, and Multicoin Capital announced plans to amass over $1 billion for a Solana treasury fund backed by the Solana Foundation.
Sharps Technology has also allocated $400 million to its Solana reserves, while Pantera Capital is working on a $1.25 billion Solana-focused fund.
Related: Solana requires three drivers to propel SOL beyond $200 towards $250
Together, these initiatives represent nearly $3 billion in prospective new demand for institutional portfolios, further enhancing SOL’s likelihood of reaching $300 in the upcoming weeks.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
