Solana Price Prediction: Analyst Says SOL Is Showing the Same Bullish Pattern ETH Did in 2020 – $600 Is the First Target
Main Idea
Analysts predict Solana (SOL) could follow Ethereum's 2020 bullish pattern, with a potential price target of $600, driven by strong fundamentals, institutional demand, and a possible spot SOL ETF approval.
Key Points
1. Solana has led all Layer 1 and Layer 2 blockchains in network revenue for 18 consecutive weeks.
2. Tokenized real-world assets (RWAs) on Solana are growing faster than on Ethereum, with a 200%+ increase year-to-date.
3. The SEC's deadline for a potential spot SOL ETF is October 10, which could unlock significant demand if approved.
4. Solana's price has risen 35% in the past month, breaking a key downtrend and forming a bullish ascending channel similar to Ethereum's 2020 rise.
5. Momentum indicators like RSI and MACD suggest a potential reversal, with long-term price targets of $600 to $1,000 if the trend continues.
Description
Solana is starting to mirror the kind of setup that launched Ethereum from $100 to $4,300 during the last major cycle — and it’s adding serious weight to the bullish Solana price outlook this time around. The fundamentals are stacking fast. Solana has now led all Layer 1 and Layer 2 blockchains in network revenue for an impressive 18 weeks in a row . Meanwhile, tokenized real-world assets (RWAs) on Solana are growing faster than on Ethereum, with a 200%+ increase year-to-date according to RWAxyz...
Latest News
- FCA Lifts 4-Year Retail Ban on Crypto ETNs – Access Returns Oct. 82025-08-01 16:24:30
- Bitcoin Price Prediction: Satoshi-Era Wallets Wake Up After 15 Years – What’s Going On?2025-08-01 16:17:50
- PUMP Price Prediction: Pump.fun Token Buybacks Spark Reversal – Is the 67% Crash Now a Buy Opportunity?2025-08-01 15:27:13
- Bitcoin Mining Power Use Jumps 112% to 33 Gigawatts as Network Transactions Hit 2-Year Low: GoMining2025-08-01 13:04:05
- VC Firm Andreessen Horowitz Flags Gaps in Draft Crypto Bill2025-08-01 12:46:44