Solana (SOL) could be on its way to $300, as the Solana vs. Bitcoin price chart hints at a SOL rally incoming. Analysts are pointing out that as of Thursday, SOL/BTC’s 50-day simple moving average is on course to climb above the 200-day SMA. This would confirm the infamous golden cross pattern, one that often precedes a crypto asset’s boom in price. Currently trading at $210, SOL is already up 16% this month, and a climb to $300 would be a gain of nearly 45% from current prices.
“We’ve seen this play before… 2021, 2023, and now setting up again in 2025,” says analyst Ran Neuner, and that the setup is “screaming [for] a major move in SOL.“ In early 2021, SOL/BTC’s first golden cross fueled an approximately 1,900% breakout against Bitcoin. The second cross in mid-2023 produced a similar outcome. Now, with similar patterns emerging, as well as a bullish sentiment around SOL, the cryptocurrency could be on the verge of a surge.
Solana (SOL) is currently the best-performing cryptocurrency in the daily and weekly charts among the top 10 projects by market cap. According to CoinMarketCap data, SOL has rallied by 4.83% in the last 24 hours and 18.7% over the previous week. Furthermore, the Solana chain continues to dominate network revenue metrics, leading ahead of all L2s and L3s.
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Solana (SOL) is trading within a broadening wedge, or megaphone pattern, with the upper trendline aligning near the $295–$300 zone as the next major resistance by October. Fibonacci retracement levels also reinforce the $295 area as a critical breakout point. Growing institutional demand for the coin and a bullish crypto market are setting the tone for SOL to hit $250 and beyond very soon. Bitcoin reaching $120,000 again could also send the altcoin market skyrocketing, including Solana.
Solana (SOL) last traded above the $250 level in January of this year. The asset climbed to an all-time high of $293.31 on Jan. 19. Since its January peak, SOL’s price has fallen by 27.4%. According to CoinCodex analysts, SOL may not hit the $250 mark just yet. However, the platform anticipates SOL to climb to $240.17 on Nov. 8 of this year. If the Solana vs. Bitcoin price chart also continues to favor the former, a breakout for SOL is imminent.