The analyst says Solana’s cup and handle pattern represents at least a 90% move against Ethereum

Published on:

Jan Happel and Yann Allemannco-founders of analytics platform Glassnode recently suggested this Solana (NO) could make a significant upward move on its Ethereum pair. They mentioned the likelihood of Ethereum rising, which is another reason why SOL is likely “soaring.”

Solana will make a 90% move against Ethereum

Happel and Allemann, by sharing X account (@Negentropic) highlighted the “distinct cup and handle pattern” in the SOLETH chart, which suggests Solana will fall by 90% from the current price level. They also noted that the SOLETH indicator has been consolidating for some time and looks ready for such an upward move.

Source: X

Meanwhile, they also predict that SOL will augment because they expect it Ether “move much higher.” Therefore, the price augment of the second largest crypto token could also trigger a significant move for Solana. Interestingly, this move already appears to be on the cards, considering SOL has seen a whopping 7% price augment thanks to Ethereum price rally in the last 24 hours.

Therefore, Solana may rise as ETH continues to enjoy an uptrend following reports that Securities and Exchange Commission (SEC) could approve pending Spot Ethereum ETF App. A 90% move for Solana means the crypto token could approach its current all-time high (ATH) of $260.

Crypto analyst Javon Marks I had it before predicted that SOL could make such a move, noting that a 54% price augment may already be planned. He further claimed that Solana achieving such a price move would open up room for another 93% price augment, which would bring SOL’s price to $453.

How high can SOL go in this bull run?

Altcoin Sherpa cryptocurrency analyst has predicted that Solana could go as high as $500 by the end of the year, while cryptocurrency analyst Hansolar predicts that Solana could hit $600 this market cycle. Crypto YouTuber Jake Gagain he provided a more bullish forecast, stating that Solana will rise to $750, although he predicts this will happen next year.

Interestingly, Hansolar claimed so SALT could be the fresh Ethereum this cycle. ETH is known to have had one of the biggest gains during the recent bull market, with its price more than tripling on its way to its current ATH of $4,891. Ethereum was then powered by a decentralized finance (DeFi) tool, and many DeFi projects used this network.

Asset manager Franklin Templeton suggested that Solana will get involved in projects that will drive the next wave of cryptocurrency adoption. Therefore, Solana could undoubtedly enjoy the kind of growth Ethereum has had in 2021. This explains why the asset manager is bullish on SOL’s growth as they predict it will eventually become the third largest crypto token after Bitcoin and Ethereum.

Solana price chart from Ethereum
SOL price jumps above $180 | Source: SOLUSDT is

Featured image from Quora, chart from


Leave a Reply

Please enter your comment!
Please enter your name here