Like almost every other crypto token in the market, Solana (SOL) is
enjoying a rally of its own, rising to nearly $125 in the last 24
hours. Interestingly, this looks like only the beginning of good
things to come for the crypto token, as crypto analyst Hansolar
predicts that it could run massively in this bull cycle. SOL
To Rise To $600 Hansolar mentioned in an X (formerly Twitter) post
that SOL will rise to $600. This “fun” target was laid on the
premise that SOL could be the new ETH this cycle. Assuming this is
the case, the analyst expects SOL to take off later than BTC and
ETH. This is because ETH took off when BTC broke into all-time
highs (ATHs) during the last bull run. Related Reading:
MicroStrategy’s Bitcoin Holdings Balloons Above $10 Billion, Here’s
How Much Profit It Has Made Therefore, SOL, following a similar
trajectory to ETH in the last cycle, might not take off until BTC
and ETH break into ATHs. Hansolar suggested that SOL’s takeoff will
be sparked by retail, stating that there will be a time when these
investors buy into the crypto token “as the high beta catch-up
play.” Hansolar also offered more evidence to suggest that SOL is
likely to replicate ETH’s run in the last bull cycle. He stated
that the crypto token was currently at around 50% from its ATH,
similar to how ETH was around the 50% mark as BTC was nearing its
ATH in the last cycle. Meanwhile, Hansolar offered “fun” targets
for Bitcoin and Ethereum, stating they will hit $150,000 and
$10,000 in this bull cycle. Interestingly, Hansolar’s $600
price prediction for Solana looks very conservative compared to
Crypto YouTuber Jake Gagain’s prediction that SOL will hit $750.
The analyst stated that the crypto token will hit this price level
by next year. Between Solana And Ethereum Crypto analyst
Santiago Santos once echoed similar sentiments to Hansolar when he
drew a comparison between Solana and Ethereum, noting that the
former is going through what the latter did during the ICO boom.
He, however, suggested that Solana would perform way better than
Ethereum, as it is seeing “meaningful usage and growth,” unlike
Ethereum then. Related Reading: Renowned Economist Says
Bitcoin Isn’t Digital Gold, Then What Is It? Santos further
asserted that Solana would “converge on Ethereum faster than most
believe.” Solana, commonly referred to as the “Ethereum Killer,”
has indeed been on the heels of Ethereum as of late. Solana even
once surpassed Ethereum in 7-day DEX (decentralized exchange)
volume. The tremendous rise in Solana’s network activity is
believed to be one of the factors driving SOL’s price and what
could push it to hit the $600 mark and possibly $750, like Gagain
predicted. At the time of writing, SOL is trading at around $124,
up over 13% in the last 24 hours, according to data from
CoinMarketCap. SOL price at $128 | Source: SOLUSD on
Tradingview.com Featured image from U.Today, chart from
Tradingview.com
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