News View Non-AMP

Solana Price Prediction: Analyst Eyes $1000 Target Amid Ethereum ETF Hype

Published by
Mustafa Mulla

Recent buzz about an Ethereum ETF has not only lifted Ethereum’s price but also cast a spotlight on Solana as a potential ETF frontrunner. After a month of corrections, Solana surged today, hitting $187 before a slight dip.

Is Solana gearing up for a remarkable breakthrough?

Solana – Aiming for New Heights!

Renowned cryptocurrency analyst Altcoin Sherpa recently shared insights into Solana’s (SOL) journey towards the $200 milestone, along with speculative thoughts on its future course.

According to Sherpa’s analysis, SOL’s chart presents promising signs. A recent minor dip suggests a potential setup for another short-term rally, with the RSI rebounding, indicating renewed momentum.

Despite the market’s ups and downs, SOL’s charts maintain a bullish stance. Current support sits at $175, with a crucial resistance point at $190. Breaching the $188 mark could pave the way for further upward movement, potentially pushing SOL towards $195 and beyond to $200.

Bold Forecasts

In the midst of this excitement, crypto enthusiast Borovik steps forward with a bold prediction: Solana (SOL) could soar to $1,000, driven by the introduction of Ethereum exchange-traded funds (ETFs).

Borovik’s prediction hinges on the significant impact ETFs, especially those linked to Ethereum, could have on the broader crypto market, with Solana positioned to capitalize on this potential surge.

Insights from Daniel Yan: Ethereum vs. Solana

Daniel Yan, co-founder of Matrixport, adds to the discussion, highlighting Solana’s suitability as an ETF candidate. Drawing parallels with historical trends, Yan suggests that a Bitcoin ETF’s approval historically boosted interest in Ethereum, hinting at a similar effect for Solana if Ethereum’s ETF dreams materialize.

Yan goes further, advocating for Solana over Ethereum as a more promising trading prospect, citing lower competition in Solana’s market and higher profit potential compared to Ethereum.

Also Check Out : Decision on Ethereum Spot ETF Approval On the Horizon: Here are the Top Altcoins to Watch This Week

Is Solana a better investment than Ethereum right now? Why or why not?

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

U.S. SEC. Delays Decision on Bitwise Dogecoin ETF Until June 15

Wall Street analysts project that the U.S. SEC will approve a bunch of spot crypto…

April 30, 2025

Ethereum Eyes $2000 Breakout Amid Surging On-Chain Metrics: Is a Bigger Rally Ahead?

Ethereum's price has been going up due to the rising buying pressure following overall market…

April 30, 2025

Avalanche Poised for a 250% Upswing—Here’s the AVAX Price Prediction for 2025

Ever since the crypto markets have shown some stability, altcoins like Avalanche have refrained from…

April 29, 2025

U.S. SEC Delays Decision-Making on Franklin Templeton’s Spot XRP ETF: What Next?

The U.S. SEC recently approved XRP futures ETF, thus dramatically increasing the odds for a…

April 29, 2025

Summer Markets Could be Bearish; Bitcoin Enters Now-or-Never Trade-Here’s What’s Next for BTC Price?

Bitcoin continues to maintain its upward trend ever since the token has bounced off above…

April 29, 2025

Tether Could Lose Its #3 Crypto Spot to XRP – Here’s Why

There’s a storm brewing in the crypto markets, but where you least expect it!  While…

April 29, 2025