Key takeaways:
Prior SOL/BTC golden crosses have preceded 1,000% surges in the SOL/USD pair.
The backdrop of an altseason and nearly $3 billion in new treasury purchases enhances Solana’s potential.
Solana (SOL) is currently indicating a rare golden cross against Bitcoin (BTC), a configuration that has historically triggered significant rallies in both BTC and USD valuations.
Historical SOL golden crosses led to 1,000% increases
As of Thursday, SOL/BTC’s 50-day simple moving average (50-day SMA; the red line) is expected to surpass the 200-day SMA (the blue line), confirming a golden cross pattern.
“We’ve experienced this before… in 2021, 2023, and now in 2025,” states analyst Ran Neuner, who noted this setup is “indicating a major move in SOL.”
SOL/BTC daily price chart. Source: Ran Neuner
In early 2021, the initial golden cross of SOL/BTC fueled a breakout of about 1,900% against Bitcoin. The second cross in mid-2023 yielded a similar result.
Additionally, SOL/BTC’s ascent was paired with notable rallies in the SOL/USD pair. For example, Solana surged 1,890% against the US dollar, rising from $13 to over $260, following the confirmation of SOL/BTC’s golden cross in 2021.
SOL/USDT daily price chart. Source: TradingView
Solana increased over 1,000%, bouncing back from approximately $20 to above $250, after the second SOL/BTC golden cross in 2023.
These bullish trends in the SOL/USD and SOL/BTC markets have typically coincided with broader “altseasons,” where capital shifts from Bitcoin into higher-beta assets.
In 2021, Solana’s surge occurred during the DeFi boom that uplifted the entire altcoin sector. In 2023, the increase followed a similar pattern as liquidity post-FTX recovery moved into altcoins.
This year, the environment appears equally favorable. Ether (ETH) has recently outperformed Bitcoin, often regarded as an early indicator of altseason dynamics.
Source: BitBull
Simultaneously, historical Bitcoin halving patterns imply that liquidity growth and capital shifts usually intensify about a year after the halving, a trend that might set the stage for another significant rally for Solana.
Solana megaphone shape suggests $300 target
Currently, Solana (SOL) is moving within a broadening wedge, or megaphone formation, with the upper trendline aligning near the $295–$300 area as the next significant resistance by October.
SOL/USDT weekly price chart. Source: TradingView
This setup occurs as SOL/USD trades comfortably above its 50-week and 200-week EMAs, with the weekly RSI maintaining a bullish position at 61, indicating potential for further upward momentum.
Fibonacci retracement levels also support the $295 zone as a vital breakout area.
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 intentions to gather over $1 billion for a Solana treasury fund supported by the Solana Foundation.
Sharps Technology has also pledged $400 million to its Solana reserves, while Pantera Capital is working on a $1.25 billion Solana-focused initiative.
Related: Solana requires three catalysts to propel SOL past $200 toward $250
Together, these actions represent nearly $3 billion in prospective new demand for institutional portfolios, potentially enhancing SOL’s chances of hitting $300 in the nearing weeks.
This article does not constitute investment advice or recommendations. Every investment and trading action carries risk, and readers should carry out their own research before making decisions.
