Key Takeaways
- Solana (SOL) price action suggests a 7.5% dip is on the horizon.
- Forward Industries now holds 6.5 million SOL worth $1.55 billion in its Solana Treasury.
- Experts predict SOL could hit $1,250 if it closes a weekly candle above $250.
The bullish sentiment around Solana (SOL) is heating up following the $1.65 billion Solana Treasury Strategy announcement, the current price action, and bold expert predictions. This bullish outlook has already propelled SOL by 8.5% over the past week, outperforming major assets such as Bitcoin (BTC) and Ethereum (ETH).
Solana (SOL) Treasury Strategy Holding
Forward Industries, in partnership with Galaxy Digital, Multicoin Capital, and Jump Crypto, has created the world’s largest Solana digital asset treasury strategy. So far, they have accumulated 6.822 million SOL worth $1.58 billion as part of their newly launched treasury strategy.
SOL Price Faces Short-Term Correction
This significant accumulation over the last five days has not only propelled SOL but also opened the path for a further upside rally.
However, SOL now appears to be in a correction phase after a nonstop price surge. Currently, SOL is trading near $230, down 6.15% in the past 24 hours.
During the same period, the asset’s trading volume jumped by 32%, indicating heightened participation from traders and investors compared to the previous day.
Experts Eye $1,250, $1,700 Long-Term Target
Despite the price decline, several bold predictions by crypto experts surfaced on X.
A well-followed crypto expert shared a tweet noting that SOL is forming a massive ascending triangle pattern on the weekly chart. He stated that if SOL closes a weekly candle above the $250 level, it will officially trigger the SOL bull run of 2025–26, with a long-term target of $1,250.
Another expert shared a different prediction, noting that SOL has experienced two deviations on both the upside and downside on the weekly chart. The chart showed that the last deviation ended with a breakout, where SOL rallied from $31 to $180.
This time, the asset has once again broken out of deviation, seemingly mirroring its past performance. The expert highlighted that there is a strong possibility SOL is ready for its next surge and may reach the $1,700 mark.
However, both predictions are for the long term, and it may take years to achieve.
Solana (SOL) Price Action and Upcoming Levels
According to TimesCrypto’s technical analysis, SOL maintains a bullish outlook. However, the nonstop rally after its breakout has pushed the asset into a correction phase.
On the daily chart, the formation of an inverted hammer candle, followed by a strong red candle, signals growing downside momentum.
Based on the current price action, if this momentum continues, there is a strong possibility that SOL could drop by 7.5% and retest the breakout level. On the other hand, if SOL holds above the $215 level, the asset could rally again and potentially cross the $260 level.
SOL’s Relative Strength Index (RSI) has come out of overbought territory amid the price dip. At press, it stands at 62, suggesting the asset remains in a strong uptrend and still has room to complete this correction.
