Solana's Price Surges 21% Outpacing Ethereum's 5% Gain
1min read Solana's price has been making significant strides, with the SOL/ETH ratio recently hitting a record high. This ratio's highest-ever weekly close underscores Solana's growing strength against Ethereum. Currently trading at $131, Solana has seen a 21% increase over the past week, outpacing Ethereum's 5% gain during the same period. This bullish trend has led analysts to predict that Solana could reach $300 by the end of April, representing a 129% increase from its current price.
Solana's momentum is further supported by robust blockchain activity and positive technical indicators, which suggest that the cryptocurrency is solidifying its position as a leading Layer 1 blockchain. The cryptocurrency has also outperformed Bitcoin, overcoming resistance from a descending trendline in the SOL/BTC pair. While achieving the $300 target would require a significant spike, analysts point to Solana's history of rapid rallies as evidence of its potential.
Market consolidation has been observed, with Solana's price trading within a range of $127.50 to $136.50. The cryptocurrency has maintained a strong position within this channel, demonstrating conservative bullishness. The Relative Strength Index (RSI) has surpassed the overbought zone, indicating market exhaustion, while northerly trends have dominated the price action. Multiple golden crosses and RSI reaching oversold levels have produced temporary market gains.
Despite the positive outlook, death cross formations have indicated building resistance pressure in the upper consolidation region. Solana's weekly market growth has outpaced Ethereum's by 21% to 5%, leading traders to speculate that Solana could surpass Ethereum in market capitalization if this trend continues.
Recent evaluations suggest a promising future for Solana's price, with an all-time high SOL/ETH ratio and reliable technical indicators. In the very short term, Solana is expected to touch resistance levels between $160 and $180 in April 2025. Long-term forecasts are even more optimistic, with experts predicting Solana to set new all-time highs, with price targets reaching as high as $220, even $1,000, by the end of 2025. This optimism is driven by potential new ETF approvals, technological improvements, and increased blockchain consumption. Maintaining support between $122 and $134 will be crucial for Solana to sustain its uptrend momentum.
