CandleFocus Solana (SOL) to $330? Here's What to Expect This Week
2024-09-28
Author: Content Editor
Solana (SOL) has experienced a 7% growth in price this week, reaching $157.22. Despite facing resistance at the $150 mark, traders are cautiously optimistic about a potential breakthrough. However, Solana has shown relative underperformance compared to Ethereum, with the SOL/ETH pair declining. Nonetheless, according to CryptoQuant CEO Ki Young Ju, Ethereum is progressively losing market cap to Solana. Solana's USD price may remain stable as ETH attracts more capital, but its value relative to Ethereum has dropped. A report by VanEck predicts that Solana could surge to $330, reaching 50% of Ethereum's market capitalization, citing Solana's superior speed and efficiency as drivers of growth. For Solana to continue its bullish trend, it needs to break through key resistance levels, with a successful breakout potentially pushing SOL toward $180. If it fails to overcome resistance, a retracement back to the $140 range is possible.
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