Contact us
  • Home
  • Tech
  • Gaming
  • Social Networks
  • Blockchain
    • Crypto News
  • NFTs
  • Metaverses
    • Second Life
  • Reviews
  • Store
  • More!
    • Advertising and Services
    • Partners and Resources
No Result
View All Result
  • Home
  • Tech
  • Gaming
  • Social Networks
  • Blockchain
    • Crypto News
  • NFTs
  • Metaverses
    • Second Life
  • Reviews
  • Store
  • More!
    • Advertising and Services
    • Partners and Resources
No Result
View All Result
Geek Metaverse
No Result
View All Result

Will Solana (SOL) price repeat Ethereum (ETH) history?

by geekmetaverse
18/01/2023
ADVERTISEMENT
Share on FacebookShare on TwitterShare on LinkedinShare on RedditShare on PinterestShare on WhatsappShare on Telegram

Solana (SOL) seems to be heading for a price recovery for the next few days or weeks, which could take it above its all-time high of around $260.

The rising price of bitcoin (BTC) and the rest of the cryptocurrencies has not gone unnoticed by SOL. The altcoin managed a 43% rise in the last seven days, to hold above $22 at the time of writing.

Several experts claim that this move may be the beginning of a broad rally in the price of Solana.

In that regard, cryptocurrency analyst ImmortalCrypto noted that SOL could repeat the price action recorded by Ethereum (ETH) in 2021.

That year, ETH took advantage of the bull rally to show a remarkable surge, rising from $200 to reach an all-time high of $4,868, in November 2021.

The expert argues that SOL could follow the same pattern of rising prices, after considering the clear similarities observed in the SOL/USDT chart.

“SOL has strong support at $22.84 with its closet resistance at the $60 level. By implication, SOL could go beyond its all-time high of $259.9 if the $60 resistance is broken,” he noted.

$ETH vs $SOL

Yes or no. pic.twitter.com/W2ZYlkG1CT

— Inmortal (@inmortalcrypto) September 6, 2022

Meanwhile, fellow Altcoin analyst Sherpa mentioned that while some pullbacks could be seen, the outlook for the Solana network-native token is bullish.

However, he pointed out that the short-term performance of the altcoin would depend on the performance of the bitcoin price.

The expert expects Solana to break price resistance at $26.5, before moving into a non-linear pattern to reach $30, if BTC remains in an uptrend.

$SOL: Do we think this #Solana run is going to keep going? I could see more upside to the mid $30s from here if $BTC continues. Ultimately, though, I think that we fill the gap with trading volume between $17-$28 or so. Probably going to eventually trade there. pic.twitter.com/oSdc7BH692

— Altcoin Sherpa (@AltcoinSherpa) January 16, 2023

Impressive comeback

Solana was one of the tokens most affected by the controversial bankruptcy of cryptocurrency exchange FTX, in which thousands of users lost millions of dollars due to one of the largest financial scams in history, perpetrated by Sam Bankman-Fried, former CEO of FTX.

Bankman-Fried was a strong advocate of Solana, the blockchain that is touted as a faster alternative to the Ethereum network.

In fact, the former FTX CEO backed several projects in the Solana ecosystem and his companies accumulated huge sums of the SOL token.

As a result, Solana fell more than 96% from its all-time high in November 2021 after the exchange crashed.

And although it is currently 91.23% from that level, its recovery seems to indicate that SOL could be trading back above $260.

At the time of writing, the price of SOL is $22.74, down 3%.

WARNING: This is an informational article. Geek Metaverse is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that cryptoasset investments are not regulated in some countries. They may not be appropriate for retail investors, as the full amount invested could be lost. Check your country’s laws before investing.

Follow us on our social networks and keep up to date with everything that happens in the Metaverse!

         Twitter   Linkedin   Facebook   Telegram   Instagram    Google News

Recent Posts

  • Saweetie to host first-ever NFL Metaverse Concert on Roblox
  • Is the Dogecoin Price (DOGE) following in the footsteps of Shiba Inu (SHIBA)?
  • The History of Bitcoin: How It All Began
  • Dubit announces the hiring of Regine Weiner as new Head of Studio
  • eBay partners with Notable Live to connect Athletes with Fans through NFTs
ADVERTISEMENT
Tags: bitcoinbtccryptocrypto newscryptocurrencyethethereumFTXsolsolana

geekmetaverse

Related Posts

Is the Dogecoin Price (DOGE) following in the footsteps of Shiba Inu (SHIBA)?
Crypto News

Is the Dogecoin Price (DOGE) following in the footsteps of Shiba Inu (SHIBA)?

02/02/2023
the-history-of-bitcoin-how-it-all-began
Crypto News

The History of Bitcoin: How It All Began

02/02/2023
bitcoin-price-started-february-on-the-rise-will-it-remain-the-same-at-the-end-of-the-month
Crypto News

Bitcoin Price started February on the rise: will it remain the same at the end of the month?

01/02/2023
twitter-prepares-to-accept-payments-in-bitcoin-and-other-cryptocurrencies
Social Networks

Twitter prepares to accept payments in Bitcoin and other Cryptocurrencies

31/01/2023
Next Post
the-world-economic-forum-to-have-its-own-metaverse-this-year

World Economic Forum to have its own Metaverse this year

Recommended.

Donation Box

19/03/2022
nyx-makeup-launches-nft-to-access-the-first-beauty-dao

NYX Makeup launches NFT to access the First Beauty DAO

20/01/2023
ZenGo – The first Crypto Wallet without Private ZenGo – The first Crypto Wallet without Private ZenGo – The first Crypto Wallet without Private
ADVERTISEMENT

Trending.

the-best-web3-conferences-to-attend-in-2023

The Best Web3 Conferences to attend in 2023

01/02/2023
chatgpt-how-can-ai-help-bitcoin-and-cryptocurrency-users

ChatGPT: How can AI help Bitcoin and Cryptocurrency users?

30/01/2023
Epic Games launches Verse, the Metaverse programming language

Epic Games launches Verse, the Metaverse programming language

14/12/2022
ces-2023-what-we-expect-to-see-in-las-vegas-this-year

CES 2023: What we expect to see in Las Vegas this year | Web3 included

02/01/2023
bitcoin-price-predictions-in-2023-according-to-analysts-and-traders

Bitcoin Price Predictions in 2023 According to Analysts and Traders

17/01/2023
Geek Metaverse

Geek Metaverse

Tech, Gaming, Metaverses, NFTs and Crypto News!

Contact

info@geekmetaverse.com

Categories

  • Blockchain
  • Crypto News
  • Gaming
  • Giveaway
  • Metaverses
  • NFTs
  • Reviews
  • Second Life
  • Social Networks
  • Start your Blog
  • Tech

Recent Posts

  • Saweetie to host first-ever NFL Metaverse Concert on Roblox
  • Is the Dogecoin Price (DOGE) following in the footsteps of Shiba Inu (SHIBA)?
  • The History of Bitcoin: How It All Began
  • Dubit announces the hiring of Regine Weiner as new Head of Studio
  • eBay partners with Notable Live to connect Athletes with Fans through NFTs
  • Advertise
  • Privacy & Policy
  • Contact
  • Store

© 2022 Geekmetaverse

No Result
View All Result
  • Reviews
  • Blockchain
  • Gaming
  • Crypto News

© 2022 Geekmetaverse

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.