Cryptocurrency experts predict Solana’s growth by 40%

Solana SOL $200.20 Binance-Peg SOL 1.88% Market capitalization $0.22 billion VOL. 24 hours $0.8 billion has formed a golden cross on the daily chart, a technical signal that previously preceded significant growth and brought at least 40% of the profit. In October 2024, under similar conditions, the price of the virtual coin rose from $ 155.01 to $ 293.00 in just seven days. This pattern occurs when the 50-day simple moving average crosses the 200-day one, which many traders take as a sign of a strong uptrend. Currently, analysts are predicting a possible breakout from the $ 174−187 range and a move toward 2021 highs of around $ 250.

At the time of publication, SOL was trading at $ 196. This growth occurred amid unchanged data on the US consumer price index, which increased the probability of a rate cut in September by more than 86%. Ethereum ETH $4,331.28 Bridged Ether (StarkGate) -1.00% Market capitalization $0.11 billion VOL. 24 hours $2.14 billion became the market leader, rising 4% to reach a three-year high above $ 4,400. Analysts suggest that the activity around ETH could affect Solana’s ability to overcome current resistance levels.

Crypto analyst Honeyxbt noted that although a golden cross has formed, the lack of a breakout of the $ 190−205 resistance zone is a deterrent. She emphasized that SOL retains technical strength and is trading above its 200-day exponential average, but needs additional momentum. Meanwhile, Upexi, the largest treasury in the Solana ecosystem, has appointed BitMEX co-founder Arthur Hayes as the first member of its advisory board. Hayes will advise on strategy and help expand the company’s SOL holdings in the treasury.

Upexi has already raised $ 300 million to buy Solana tokens. Other companies are developing similar strategies, including BIT Mining and DeFi Development Corp. An additional driver could be the likely approval of Solana exchange-traded funds (ETFs) in the United States. In June, seven major asset managers filed or renewed applications, including VanEck, Fidelity, 21Shares, Franklin Templeton, Grayscale, Bitwise, and Canary Capital. According to Bloomberg, the chances of approval in 2025 are 90%.

From a technical perspective, a breakout above $ 188 could open the way to $ 225 and a medium-term target of around $ 246, provided the macroeconomic environment is favorable, including a potential 25 basis point rate cut in September. In the event of a failed breakout, a pullback to support at $ 167 is likely, and a breakout of this level could ruin the positive scenario.