{"id":609128,"date":"2024-05-21T22:00:21","date_gmt":"2024-05-21T22:00:21","guid":{"rendered":"https:\/\/ktsl888.com\/?p=609128"},"modified":"2024-05-21T11:52:01","modified_gmt":"2024-05-21T11:52:01","slug":"solana-cup-and-handle-ethereum","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/solana-cup-and-handle-ethereum\/","title":{"rendered":"Solana Cup And Handle Pattern Means An At Least 90% Move Against Ethereum, Analyst Says"},"content":{"rendered":"

Jan Happel and Yann Allemann<\/span><\/a>, the co-founders of the on-chain analytics platform Glassnode, recently suggested that <\/span>Solana (SOL)<\/span><\/a> could make a significant move to the upside in its Ethereum pair. They alluded to the likelihood of Ethereum rising higher as another reason SOL will likely \u201csoar.\u201d<\/span><\/p>\n

Solana To Make A 90% Move Against Ethereum<\/h2>\n

Happel and Allemann, through their shared <\/span>X account<\/span><\/a> (@Negentropic), highlighted a \u201cclear Cup and Handle pattern\u201d on the SOLETH chart, which suggests <\/span>Solana<\/span><\/a> will move 90% from its 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.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Mirrors Historical Pattern That Led To $1,200 Surge, Will History Repeat Itself?<\/a><\/div>\n
\"Solana\"
Source: X<\/figcaption><\/figure>\n

Meanwhile, they also predict SOL will soar because they expect <\/span>Ethereum<\/span><\/a> \u201cto move much higher.\u201d Therefore, 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 <\/span>Ethereum\u2019s price rally<\/span><\/a> in the last 24 hours.\u00a0<\/span><\/p>\n

Therefore, Solana could rise higher as ETH continues to enjoy an upward trend following reports that the <\/span>Securities and Exchange Commission (SEC)<\/span><\/a> could approve the pending <\/span>Spot Ethereum ETF applications<\/span><\/a>. A 90% move for Solana means the crypto token could come close to its current all-time high (ATH) of $260.<\/span><\/p>\n

Crypto analyst Javon Marks<\/span><\/a> had before now <\/span>predicted<\/span><\/a> 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\u2019s price to $453.\u00a0<\/span><\/p>\n

How High Can SOL Rise In This Bull Run?<\/h2>\n

Crypto analyst Altcoin Sherpa<\/span><\/a> has <\/span>predicted<\/span><\/a> 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. <\/span>Crypto YouTuber Jake Gagain<\/span><\/a> offered a more bullish prediction, stating that Solana will rise to $750, although he predicts that will happen next year.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Rally Incoming: This Major BTC Metric Just Turned Bullish Once Again<\/a><\/div>\n

Interstingly, Hansolar claimed that <\/span>SOL<\/span><\/a> could be the new Ethereum in this cycle. ETH is known to have been one of the biggest gainers in the last bull run, with its price more than tripling on its way to its current ATH of $4,891. Ethereum\u2019s run then was thanks to its decentralized finance (DeFi) utility, with many DeFi projects utilizing the network.\u00a0<\/span><\/p>\n

Asset manager Franklin Templeton<\/span><\/a> suggested that Solana will onboard the projects that will drive the next wave of crypto adoption. Therefore, Solana could undoubtedly enjoy the kind of run Ethereum did 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 <\/span>Bitcoin and Ethereum<\/span><\/a>.\u00a0<\/span><\/p>\n

\"Solana
SOL price jumps above $180 | Source: SOLUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Quora, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

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. They alluded to the likelihood of Ethereum rising higher as another reason SOL will likely \u201csoar.\u201d Solana To Make A 90% Move Against Ethereum Happel and Allemann, through their shared X account (@Negentropic), highlighted a \u201cclear Cup and Handle pattern\u201d on the SOLETH chart, which suggests Solana will move 90% from its 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.\u00a0 Related Reading: Bitcoin Price Mirrors Historical Pattern That Led To $1,200 Surge, Will History Repeat Itself? Meanwhile, they also predict SOL will soar because they expect Ethereum \u201cto move much higher.\u201d Therefore, 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\u2019s price rally in the last 24 hours.\u00a0 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\u2019s price to $453.\u00a0 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.\u00a0 Related Reading: Bitcoin Rally Incoming: This Major BTC Metric Just Turned Bullish Once Again Interstingly, Hansolar claimed that SOL could be the new Ethereum in this cycle. ETH is known to have been one of the biggest gainers in the last bull run, with its price more than tripling on its way to its current ATH of $4,891. Ethereum\u2019s run then was thanks to its decentralized finance (DeFi) utility, with many DeFi projects utilizing the network.\u00a0 Asset manager Franklin Templeton suggested that Solana will onboard the projects that will drive the next wave of crypto adoption. Therefore, Solana could undoubtedly enjoy the kind of run Ethereum did 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.\u00a0 Featured image from Quora, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":609140,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625,84543],"tags":[6664,90232,14690,8323,89213,16163,1946,7931,6931,8686,78803,91847,12837,89406,86420,83626,89405,85361,86410,83627],"class_list":["post-609128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","category-solana","tag-crypto","tag-crypto-expert","tag-crypto-news","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt","tag-expert","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nSolana Cup And Handle Pattern Means An At Least 90% Move Against Ethereum, Analyst 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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