Based

Solana

<ul class="wp-block-list news-points"> 
 <li><strong>An analyst observes that Solana’s current price action resembles Ethereum’s pre-2020 rally.</strong></li> 
 <li><strong>Based on the resemblance, he projected a $1,000 price point.</strong></li> 
 <li><strong>Community reactions mixed on Solana’s potential to hit $1K.</strong></li> 
</ul> 
<p>Crypto analyst Kaleo sparked excitement on X (formerly Twitter) by highlighting similarities between Solana’s (<a href="https://coinedition.com/solana-outperforms-market-analysts-eye-100x-potential/">SOL</a>) current price chart and Ethereum’s (ETH) just before its significant rally in late 2020. Kaleo suggests that if Solana mirrors Ethereum’s growth from that point, a $1,000 price target for SOL isn’t out of the question.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The current <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$SOL</a> chart looks incredibly similar to what <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a> did in late 2020 prior to sending to new ATHs.<br><br>If Solana manages similar growth from the previous ATH that ETH did last cycle during this bull market, $1K SOL is a reasonable target. <a href="https://t.co/JYqaLtomUs" target="_blank" rel="nofollow">pic.twitter.com/JYqaLtomUs</a></p>— K A L E O (@CryptoKaleo) <a href="https://twitter.com/CryptoKaleo/status/1823085714856202540?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">August 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Kaleo’s close examination of Solana’s recent price chart reveals striking parallels to Ethereum’s trends before it soared to new all-time highs. This pattern has fueled speculation that Solana could follow in Ethereum’s footsteps, potentially reaching unprecedented price levels if broader market condition…</p>
<p>The post <a href="https://coinedition.com/solana-price-could-it-reach-1000-like-ethereum-did/">Solana Price: Could it Reach $1,000 Like Ethereum Did?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Solana Price: Could it Reach $1,000 Like Ethereum Did?

Coin Edition

Other articles published on Aug 13, 2024

Bitcoin Volatility Spikes as JP Morgan Releases US Recession Warning

Henrik Zeberg Predicts Major Economic Weakness in 2024

Grayscale Expands Crypto Offerings with Bittensor and Sui

Top 10 Factors Determining Gas Fee in a Blockchain

QIE Blockchain Whitepaper summary

Lido community Votes to Integrate Axelar and Wormhole for Staked ETH Bridge to BNB Chain

Join our free newsletter for daily crypto updates!