Solana is tracking higher at spot rates as bulls appear keen to reclaim the 2024 highs printed in March. Amid this, one analyst is confident that SOL will extend gains versus Ethereum, looking at the candlestick arrangement in the daily chart.
Solana To Outperform Ethereum?
Sharing a SOLETH chart on X, the analyst notes that though prices have been consolidating, SOL bulls have the upper hand. So far, a clear “Cup and Handle” pattern is forming.
While it does not guarantee higher prices, the pattern historically prints out, preceding a bull run and breakout above the local resistance.
If the SOL bulls take over, the analyst predicts the SOLETH ratio will extend by at least 90%. After checking the events on the daily chart, it is clear that buyers have the upper hand. Despite the recent drawdown across the crypto scene, SOL has outperformed ETH in the last few months.
The local resistance and all-time high in the SOLETH chart is at 0.05806 ETH. A breakout ab
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