Cup and Handle Pattern
Analysts from Glassnode have spotted a “Cup and Handle” pattern on Solana’s chart against Ethereum. This pattern suggests that Solana could make a significant move upward, potentially by 90%.
Ethereum’s Role
The analysts also believe that Ethereum’s expected rise will boost Solana’s performance. They predict that Solana will “soar” as Ethereum moves higher.
Solana’s Potential
If Solana makes a 90% move, it could approach its all-time high of $260. Crypto analysts have also predicted that Solana could reach $500 by year-end or even $600 in this market cycle.
Solana as the “New Ethereum”?
Some analysts believe that Solana could become the “new Ethereum” in this cycle. Ethereum’s massive gains in the last bull run were driven by its role in decentralized finance (DeFi). Solana is expected to attract projects that will drive the next wave of crypto adoption.
Conclusion
Based on the Cup and Handle pattern and the expected rise in Ethereum, analysts are bullish on Solana’s growth. They predict that Solana could become the third-largest crypto token after Bitcoin and Ethereum.
