Solana News Today: Solana Golden Cross Signals Potential 40% Price Surge Toward $250

Solana (SOL) has formed a golden cross pattern on its daily chart, a technical formation historically associated with significant price surges, including a 40% gain observed between October 2023 and October 2024, when SOL rose from $155.01 to $293.00 in just seven days. This pattern occurs when the 50-day simple moving average crosses above the 200-day moving average, a widely recognized signal among crypto traders for bullish momentum [1].

Currently, SOL is trading at $178.06, having rebounded from an intraday low of $173.69. The token remains above its 200-day EMA, indicating it is in a technical uptrend [1]. Many traders and analysts are anticipating a breakout from the $174–$187 trading range, which could push SOL toward its 2021 peak near $250 [1].

The potential for a bullish move is further supported by broader macroeconomic and market developments. The probability of a September rate cut has risen to 94.2%, boosting risk-on sentiment across financial markets [1]. Meanwhile, Ethereum has surged to a three-year high above $4,400, contributing to a generally bullish environment for cryptocurrencies [1].

Arthur Hayes, co-founder of BitMEX, has joined Upexi’s advisory board, marking a significant institutional endorsement for Solana. Upexi, Solana’s largest treasury company, has already secured $300 million to purchase SOL for treasury expansion. Hayes has previously played a pivotal role in promoting Ethereum treasury strategies, and his involvement could accelerate institutional adoption of Solana [1].

A key catalyst for the potential $250 target is the pending approval of a spot Solana ETF. In June 2025, seven major asset managers, including VanEck, Fidelity, and Grayscale, submitted or amended applications with the U.S. Securities and Exchange Commission. According to Bloomberg ETF analysis, Solana has a 90% probability of approval in 2025 [1].

Technically, the golden cross on the daily chart, combined with a breakout from a descending channel, supports an upward trajectory. A decisive close above $188 could open the path toward $225, with a potential medium-term target near $246 if broader macroeconomic conditions support the move [1]. However, failure to break above $188 could lead to a retest of the $167 support level, potentially undermining the bullish outlook [1].

Crypto analyst Honeyxbt expressed cautious optimism, noting that while the golden cross is in place, the price has yet to demonstrate strong momentum by breaking through the $190–$205 resistance zone [1]. She emphasized that Solana remains technically strong but needs to show conviction to sustain its upward trend [1].

With growing treasury interest, robust on-chain activity, and a favorable macroeconomic environment, Solana appears well-positioned to compete with Ethereum as a major large-cap crypto asset in the months ahead [1].

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[1] [Bullish Golden Cross Pattern That Delivered 40% Gains Since 2023 Returns – Can SOL Push to $250 Next?](https://cryptonews.com/news/bullish-golden-cross-pattern-that-delivered-40-gains-since-2023-returns-can-sol-push-to-250-next/)