Ethereum's 50.61% Monthly Gain Outpaces Solana's 24.11% Rise

Ethereum and Solana are two of the most prominent cryptocurrencies in the market, and as summer approaches, investors are keen to determine which one will hit a new all-time high (ATH) first. Both cryptocurrencies have shown significant price movements in recent months, with Ethereum experiencing a 50.61% monthly gain but a 23.10% decline over the past six months. Solana, on the other hand, has seen a 24.11% rise over the past month but a 30.10% fall over the last six months.

Ethereum's price action has been characterized by notable short-term rallies while longer-term trends remained subdued. The coin is currently trading between $1468.66 and $2037.85, with immediate support at $1142.44 and resistance at $2280.82. This suggests a balanced contest between bulls and bears, with no clear trend evident. Traders may seek entries near support and plan exits around resistance while monitoring momentum indicators for subtle shifts.

Solana's price range during the past period moved between $109 and $171.27, indicating moments of strong buying followed by sharp corrections. The coin currently trades between $109 and $171.27, with support at $71.65 and resistance at $194.93, while a higher barrier exists at $256.57. The Relative Strength Index (RSI) stands at 55.46, and the Awesome Oscillator shows 16.296, pointing to moderate buyer interest. However, the momentum indicator at -6.5 reveals bearish pressure. There is no clear trend, suggesting traders should focus on smaller moves within these levels while monitoring for breakthroughs.

Arthur Hayes, the vocal co-founder of BitMEX, has shared his insights, predicting that Ethereum is more likely to outperform Solana in the upcoming 18-24 month bull run. Hayes believes that Bitcoin will surge to $200,000 in the near term, potentially as soon as the third quarter of 2025, and that this will trigger an altcoin season. He expects Bitcoin’s dominance to continue rising, with trading volume spikes anticipated in the summer or early third-quarter of 2025. However, he warns that this altcoin cycle will differ from the wild super cycle of 2021. If Hayes had to pick between Ethereum and Solana, he clarified he would pick Ethereum.

Hayes' predictions are based on his belief that the U.S. government will need to borrow more money, leading to increased spending and more dollars circulating in the world. This, in turn, could drive up the price of Bitcoin and other cryptocurrencies. He also expects gold to reach $10,000-20,000 by the end of this rally, as the U.S. revalues its gold holdings to depreciate the dollar against gold. While Hayes is bullish on Ethereum, some experts see Solana hitting $137–$500 in 2025, driven by decentralized finance (DeFi) and exchange-traded funds (ETFs). However, Hayes remains skeptical about Solana's edge, preferring Ethereum as the more likely candidate to hit a new ATH first this summer. His long-term target for Bitcoin is $1 million by the end of 2028, coinciding with the close of US President Donald Trump’s second Presidential term. Hayes believes that people’s expectations for crypto are very high, and they need to be patient as Trump has many things to focus on.

Both Ethereum and Solana have significant potential to reach a new all-time high. Ethereum benefits from a strong developer community and ongoing updates, while Solana offers fast transaction speeds and lower costs. Deciding which one will hit a new ATH first involves various market factors and investor sentiments. Observing trends and news closely might offer better insight. The cryptocurrency market is known for its volatility, and predictions can vary widely. However, Hayes' insights provide a valuable perspective on the potential direction of the market. As the summer approaches, investors will be watching closely to see which altcoin will hit a new ATH first.