Solana Could Outperform Ethereum by up to 5x, Say Glassnode Co-Founders
The co-founders of crypto analytics firm Glassnode believe that Solana (SOL) has the potential to outperform Ethereum (ETH) by up to 5 times in the current bull market. According to the Glassnode co-founders, the SOL/ETH chart indicates a possible surge in the SOL/ETH ratio.
The chart analyzes the Relative Strength Index (RSI), which is a widely used momentum indicator that determines if an asset is overbought or oversold. The Glassnode founders suggest that SOL has strong momentum based on the RSI.
The chart also examines the moving average convergence divergence (MACD) indicator, which is used by traders to identify potential trend reversals. Happel and Allemann state that SOL’s MACD looks bullish.
At present, SOL is priced at $100 while ETH is trading at $2,539.
Altcoins Ready for Takeoff
Happel and Allemann also express their belief that altcoins in general are “ready to fly.” They suggest that after a consolidation period following the break-up of a rounding bottom formation, altcoin season will lead to significant growth in the market within a few weeks to months.
Hot Take: Solana’s Potential to Outshine Ethereum
Glassnode co-founders Jan Happel and Yann Allemann predict that Solana could surpass Ethereum by up to 5 times during this bull run. Analyzing the SOL/ETH chart, they observe strong momentum for Solana based on the Relative Strength Index (RSI) and a bullish outlook according to the moving average convergence divergence (MACD) indicator. With Solana priced at $100 and Ethereum at $2,539, the co-founders suggest that Solana has the potential to outperform its competitor. Additionally, Happel and Allemann anticipate a broader altcoin rally in the near future, leading to accelerated growth across the market.
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