A popular virtual currency strategist and investor says the Solana (SOL) smart contract protocol has the potential to replicate the rapid rise of Ethereum (ETH) in 2021.
Analysts, aka Immortals, report to their 191, 200 followers on Twitter that Solana has the potential to follow in the footsteps of the ETH model and ultimately catapult the major altcoin to all-time highs, breaking through the $400 resistance in 2021. The report states.
Looking at traders’ charts, the uniformity between the two charts makes more sense if SOL can beat the opposition at $60.
At the time of writing, SOL is trading at about $23.18; ETH is up nearly 200% from its December 2022 low of $8.03.
Fellow crypto analyst Altcoin Sherpa continues to focus on Solana. He reports on Twitter to his 189, 100 followers that while SOL has significant advantages, he believes the crypto asset is likely to undergo a significant correction.
He asks, “Do you think this Solana rally will continue? If BTC continues to rise, we could see a strong rally into the mid-$30s. But ultimately, I think we’ll close the gap at a transaction size of £17-28. Or near that “could not load all totals”