The rounded bottom that SOL formed, combined with its current momentum and treasury company demand, could push prices to a new ATH.
The Fibonacci extension levels showed that $363 and $473 were likely targets in the coming months.
Solana [SOL] was on track to reach the $300 target, provided it can beat the immediate resistance level at $262.
AMBCrypto captured the rounded bottom that SOL formed earlier in the year, which meant that $300 was the next target.
The report also showed that Solana’s spot flows saw strong outflows. The spot taker CVD also moved to a neutral zone from an extended seller-dominant phase. This could help the altcoin make gains in the coming days.
The steady accumulation of SOL in treasury company reserves was another encouraging factor for long-term bulls.
Going into Q4 2025, there was a chance that Solana would continue to outperform the leading altcoin, Ethereum [ETH]. This could be due to the capital rotation into SOL, combined with its high daily token volume.
Technical analysis showed that it was highly likely that SOL would reach the $300 target and set a new all-time high.
After the market bottomed at $8, the rally over the next two years had parts where it was a slow consolidation, and parts with explosive upward movement.
After reaching $295 in late 2024, SOL retraced to $95.2 in April. This drop was just below the 61.8% retracement level at $117.95. After the drop below this key Fibonacci retracement level, Solana has rallied higher.
It was likely that the rally would reach the Fibonacci extension levels outlined on the price chart. Therefore, the next long-term targets would be $363 and $473.
In the event of Bitcoin [BTC] soaring to dizzying heights past the $150k-$160k area, it is feasible that SOL might even reach $583.
On the 1-day chart, Solana has a strongly bullish outlook. The CMF and the MFI indicators showed strong buying pressure and upward momentum. The market structure was bullish as well.
As the price approaches the $280 supply zone from the end of 2024, traders should be cautious and book profits. After the $260-$273 region is flipped to support, traders and investors can look to bid on Solana.
