Table of Contents
- Solana turbo boost
- A $SOL macro perspective
- $SOL set to eclipse $BTC and $ETH
Solana has been consolidating over the last few weeks, leaving bitcoin to grab the headlines. However, the last couple of days have seen a big push from $SOL.
With bitcoin (BTC) preparing for its next big move upwards , and ethereum (ETH) finally springing into life , the crypto sector looks to be reigniting. That said, the cryptocurrency that is really putting on the show right now is Solana (SOL).
Solana turbo boost
Source: Trading View
On Wednesday, $SOL perhaps signalled what was to come, as the price rose nearly 9% before falling back heavily and leaving a wick to the upside. However, on Thursday, Solana bulls were not to be denied, and this time a 12% gain was made, which only fell back slightly.
Today, $SOL is up 6.5% so far and it looks as though there might be more in the tank. With $BTC on the verge of breaking out, and $ETH already showing a lot of strength, $SOL is probably going to compare favourably, having been beaten down far more than these two rivals.
A $SOL macro perspective
Source: Trading View
There is a level of resistance at around $75, but there is also the 1.618 fibonacci level at $78.6. Obviously, $SOL should be going much higher than this. These are only fibonacci levels for the recent move on the daily time frame.
Looking from a more macro perspective, the 0.382 level comes in at $104, the 0.5 at $134, the 0.618 at $164, and the 0.786 at $206. The all-time-high is at $260.
$SOL set to eclipse $BTC and $ETH
Given Solana’s recent technological breakthrough with its Firedance validator client, it would be likely that $SOL will continue to make up ground on both $BTC and $ETH. The sky really could be the limit for Solana and its ecosystem. The next couple of years could be extremely exciting.
