Sep 13, 2025
1 0
Solana Nears Price Discovery Phase After Reaching Seven-Month High
Solana (SOL) has reached a seven-month high of $241.84, suggesting a potential price discovery phase. However, analysts warn that the market rally might be nearing its end.
- Solana has recently broken out of a $120-$220 consolidation range and is attempting to turn the $240 level into support.
- If SOL surpasses $250, it may pave the way for further gains, potentially reaching up to $600 according to analyst Crypto Jelle.
- Analyst Ali Martinez sees a potential target of $1,314.41 after a breakout from a three-year cup and handle pattern.
- Altcoin Sherpa advises caution, noting that while Solana, Ethereum (ETH), and BNB are expected to rise, much of their upward movement may already have occurred.
Bitwise CIO Matt Hougan predicts a strong Q4 for Solana, driven by potential ETF approvals and corporate treasury investments. Several spot Solana ETFs await SEC approval, with expectations for a decision in October.
Forward Industries Inc. has closed a $1.65 billion private investment deal to purchase and stake SOL, aiming to generate returns. This initiative involves Galaxy Digital, Jump Crypto, and Multicoin Capital.
As of now, SOL trades at $239.86, marking a 6.1% daily increase.
