Price Analysis

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

Explore the most likely Solana price forecast as it formed a megaphone on the and as the amount of money in SOL treasuries nears the $3b mark
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Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B

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.

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Solana Price Technical Analysis Points to a Surge Soon

The daily timeframe chart shows that the Solana price has rebounded in the past few months, moving from the June low of $125.2 to a high of $253. This recovery was in sync with the overall crypto market rally, with Bitcoin hitting its all-time high.

SOL price has recently pulled back and was trading at $220 on Wednesday. On the positive side, it has formed a giant megaphone chart pattern. This is a highly bullish continuation pattern, which is made up of two ascending and diverging trendlines.

In this case, the upper side of the megaphone connects the highest swing in June, July, and September. The lower side links the lowest points in the three months. 

Additionally, the Solana price remains above the 100-day Exponential Moving Average, which is a sign that the uptrend is intact. 

Therefore, the most likely SOL price forecast 2025 is highly bullish, with the initial target being the year-to-date high of $253, which is about 13.4% above the current level. A break above that price will raise the possibility of the coin soaring to the all-time high of $294. 

On the flip side, a drop below the support at $200 may point to more downside in the near term as it will send a signal that there are still bears left in the market.

Solana Price Chart
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Solana Treasury Holdings are Soaring

One potential catalyst for the SOL price is that companies are still buying the coin and adding it in their treasuries.

Data compiled by CoinGecko shows that the amount of coins held in these treasuries has jumped to 13.4 million, which is equivalent to $2.9 billion. This figure will get to $3 billion in the near. 

The most recent company to add more Solana into its holdings is Helius Medical Technologies, which now holds 2.2 million coins worth over $525 million. It recently raised $500 million in a public placement to boost its holdings.

Forward Industries (FORD) has bought Solana tokens worth over $1.5 billion, while DeFi Development Corp has $226 million worth of Solana. Other large holders are companies like Upexi, Sharps Technology, and Sol Strategies.

Solana price has other catalysts, including the growing inflows into the Solana Staking ETF, whose assets have now jumped to over $441 million. 

Also, Solana has one of the top weightings in the just-announced S&P Crypto Index, meaning that it may gain more demand when ETF providers start tracking it. Most importantly, the odds that the SEC will approve the spot Solana ETF have jumped to almost 100% on Polymarket.

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Frequently Asked Questions

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.

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.

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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crispus

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.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
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