Will Solana (SOL) Hold Its Own Against Bitcoin (BTC) or Plunge Like Ether (ETH)?

Analysts are divided about Solana's next trending move. While some expect the price to decrease, others believe a breakout could be possible.

Solana (CRYPTO: SOL) loyalists believe the blockchain is an Ethereum (CRYPTO: ETH) killer; hence, comparisons were bound to happen after Ether slid to a three-and-a-half-year low against Bitcoin (CRYPTO: BTC) last seen in 2021.

The question that arises is whether Solana will hold its own against Bitcoin or lose ground, mirroring Ether's performance.

Solana’s Next Move: Analysts are divided on Solana’s next trending move. While some expect the price to decrease, others foresee a breakout. Veteran trader Peter Brandt, in a Sept. 20 X post, highlighted Solana holding the $120 support, which could set it up for a “sizable advance.”

Crypto market data daily view. Source: Coin360

VanEck is also bullish on Solana. In a Sept. 25 report, the firm predicted Solana to reach $330, soaring to 50% of Ether’s current market capitalization. However, the report added that institutional investors were yet to fully recognize Solana’s advantages, possibly due to their reluctance to shift from blue chip coins like Ether.

Solana will also have to watch out for emerging competition, which could dislodge it as the top alternative layer-1 network to Ethereum. According to K33 Research analysts, Sui Network could become a rival to Solana.

Will SOL Hold Its Own Against BTC, Or Could It Plunge Like ETH? Let’s analyze the SOL/BTCチャート to find out.

SOL/BTC Weekly Price Analysis: The pair has formed a symmetrical triangle, which usually acts as a continuation pattern. As the price was trending higher prior to the triangle formation, the probability of a breakout is high.

SOL/BTC weekly chart. Source: TradingView

However, the flattish 20-week exponential moving average (0.0023 BTC) and the relative strength index (RSI) in the neutral zone do not give a clear edge to either the bulls or the bears.

If the bulls keep the price above the 20-week EMA, the SOL/BTC pair could attempt a break above the resistance line. If they succeed, the pair may begin the next leg of the up move to 0.0031 BTC and later to the pattern target of 0.0039 BTC.

This bullish setup will be negated in the near term if the price turns down and breaks below the triangle. That could sink the pair to 0.0018 BTC and later to 0.0013 BTC.

solana price sol btc technicals solana price sol btc technicals 2solana price sol btc technicals 3solana price sol btc technicals 4solana price sol btc technicals 5solana price sol btc technicals 6solana price sol btc technicals 7solana price sol btc technicals 8solana price sol btc technicals 9solana price sol btc technicals 10solana price sol btc technicals 11solana price sol btc technicals 12solana price sol btc technicals 13solana price sol btc technicals 14solana price sol btc technicals 15solana price sol btc technicals 16solana price sol btc technicals 17solana price sol btc technicals 18solana price sol btc technicals 19solana price sol btc technicals 20solana price sol btc technicals 21solana price sol btc technicals 22solana price sol btc technicals 23solana price sol btc technicals 24solana price sol btc technicals 25solana price sol btc technicals 26solana price sol btc technicals 27solana price sol btc technicals 28solana price sol btc technicals 29solana price sol btc technicals 30solana price sol btc technicals 31solana price sol btc technicals 32solana price sol btc technicals 33solana price sol btc technicals 34solana price sol btc technicals 35solana price sol btc technicals 36solana price sol btc technicals 37solana price sol btc technicals 38solana price sol btc technicals 39solana price sol btc technicals 40solana price sol btc technicals 41solana price sol btc technicals 42solana price sol btc technicals 43solana price sol btc technicals 44solana price sol btc technicals 45solana price sol btc technicals 46solana price sol btc technicals 47solana price sol btc technicals 48solana price sol btc technicals 49solana price sol btc