Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B

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Solana price forecast as it forms a megaphone pattern

Highlights

  • Solana price has formed a giant megaphone pattern on the daily chart.
  • This pattern often leads to a strong bullish breakout, which could see it hit the all-time high of $295.
  • The amount of money in Solana treasuries has jumped to almost $3 billion.

Solana price pulled back today, Oct. 8, mirroring the performance of the broader crypto market, which pulled back as investors booked profits. Still, this pullback will likely be a good entry point as it has formed a giant megaphone pattern as SOL treasuries near the $3 billion milestone.

Frequently Asked Questions (FAQs)

1. What is the most likely Solana price forecast?

The most likely Solana price forecast is bullish as it has formed a megaphone chart pattern on the daily chart.

2. How high can the SOL price get?

The most likely scenario is where the Solana price jumps to the September high of $253 followed by the year-to-date high of $295.

3. What are the top catalysts for the SOL token?

The main catalysts for the Solana price are the growing assets in its treasuries, the megaphone pattern, and the upcoming Solana ETFs launch.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.