The recent appearance of a golden cross on the SOL/BTC chart has attracted analysts' attention, predicting significant price growth for Solana. Analysis revealed that such movements have historically preceded steep increases.
Golden Cross on the SOL/BTC Chart
Currently, the 50-day simple moving average (SMA) for the SOL/BTC pair is approaching a crossover with the 200-day SMA, confirming a golden cross formation. Analyst Ran Neuner believes this suggests an upcoming significant price movement for SOL.
Historical Price Growth Perspectives
Previous golden crosses of SOL/BTC have led to price increases of 1,000% or more. For instance, in early 2021, the first golden cross precipitated a 1,900% rise against Bitcoin. A similar outcome was observed in 2023.
Fundamental Reasons for Solana's Growth
In 2023, Solana shows growth amid increasing interest in altcoins. Recent investments from corporate treasuries into Solana totaling nearly $3 billion could be a key factor driving the price up to $300 in the coming weeks.
The rapid development of Solana and the emergence of a golden cross on the SOL/BTC chart make prices for this altcoin an interesting subject to watch, especially in light of historic data on past surges.
