- According to a popular cryptocurrency, Solana (SOL) can conceivably rise by more than 850% before the current cycle ends.
On the social networking platform X, a pseudonymous expert named Kaleo informs his 643,700 followers that Solana seems to be mimicking the price movement of Ethereum in late 2020, right before ETH surged to its all-time high (ATH) of $4,878.
$1,000 SOL is a realistic aim if Solana is able to achieve growth comparable to what ETH did during this bull market’s previous cycle.
However, Kaleo points out that if Solana really adheres to ETH’s 2020 plan, it can rise even higher. After peaking at approximately $308 in August 2020, ETH experienced a parabolic rise to reach its highest point in more than a year.
Assume for the moment that [Solana is] the location of ETH in August 2020. From there, we can expect a 1,400% increase to $2,000+.
As of this writing, Solana is trading at $146.74, a little increase over the previous day.
Additionally, the analyst is monitoring the price movement of Avalanche (AVAX), a fellow layer-1 protocol. The cryptocurrency trader claims that AVAX’s current price behavior is similar to what it did in the first half of 2021.
Before experiencing a sharp decline, AVAX saw a vertical rise that sent the altcoin to all-time highs of $144.96.
The present decline reminds me of what happened in 2021: a pump at the beginning of the year, a bleed off, and a send to $100+.
AVAX is currently valued at $21.43.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
