Solana (SOL) Will Soar 90% Against Ethereum (ETH), Here's Why

Jan Happel and Yann Allemann, the co-founders of the on-chain analytics platform Glassnode, recently suggested that Solana (SOL) could make a significant move to the upside in its Ethereum pair.

Co-founders of on-chain analytics platform Glassnode, Jan Happel and Yann Allemann, have suggested that Solana (SOL) could make a significant move to the upside in its Ethereum pair.

In a recent tweet from the shared X account (@Negentropic), Happel and Allemann highlighted a “clear Cup and Handle pattern” on the SOLETH chart, suggesting a 90% move from the current price level. They also noted that the SOLETH ratio has been consolidating for some time now and looks ready for such a move to the upside.

“Clear Cup and Handle pattern on SOLETH 90% move from here, ratio has been consolidating for a while now and looks ready for such a move to the upside. They are also expecting ETH to move much higher.”

Solana To Make A 90% Move Against Ethereum

The co-founders also predicted that SOL will soar because they expect Ethereum “to move much higher.” A rally for the second-largest crypto token could also spark a significant move for Solana.

Interestingly, this move already looks to be in play, seeing that SOL enjoyed up to a 7% price gain on the back of Ethereum's price rally in the last 24 hours.

Therefore, Solana could rise higher as ETH continues to enjoy an upward trend following reports that the Securities and Exchange Commission (SEC) could approve the pending Spot Ethereum ETF applications.

A 90% move for Solana means the crypto token could come close to its current all-time high (ATH) of $260. Crypto analyst Javon Marks had before now predicted that SOL could make such a move, noting that a price gain of 54% may already be in the pipeline. He further claimed that Solana achieving this price move would open up room for another price rally of 93%, which would send SOL's price to $453.

“Solana is up 54% from the August lows and could still hit the next resistance at $175 (+54%). This would also open up room for another +93% rally.”

How High Can SOL Rise In This Bull Run?

Crypto analyst Altcoin Sherpa has predicted that Solana could rise to as high as $500 by year-end, while crypto analyst Hansolar predicts that Solana could hit $600 in this market cycle. Crypto YouTuber Jake Gagain offered a more bullish prediction, stating that Solana will rise to $750, although he predicts that will happen next year.

“Solana $500 EOY, marking a 2.5x from here. Still a lot of room to run before a potential bear market.”

“Solana could be the new Ethereum in this cycle. In the last cycle, ETH was up 30x, largely thanks to the projects building on it. This cycle, Solana will onboard the projects that will drive the next wave of crypto adoption. I’m bullish on SOL's growth. Eventually, it will become the no.3 crypto.”

“Solana is the chain that will onboard the next wave of crypto projects, asset manager Franklin Templeton said in a recent report. The asset manager is bullish on SOL's growth, predicting it will eventually become the third-largest crypto token after Bitcoin and Ethereum.”