Since October $SOL 4, the net purchase of Ethereum spot ETFs has reached 3.1 million ETH, and the Ethereum treasury company has acquired 4.36 million ETH. Driven by these two major buying forces, Ethereum has experienced a spectacular moment, rising from 1385 all the way to 4957, breaking through the historical high, with a maximum increase of up to 2.57 times.
In contrast, SOL's performance during the same period has been relatively flat, as evidenced by the continuous decline of the SOL/ETH trading pair over the past four months.
However, SOL is about to welcome a turning point. On one hand, the SOL treasury company has started to ramp up its efforts, with three SOL treasury plans emerging in just one day the day before yesterday, totaling nearly 1.8 billion dollars.
On the other hand, multiple SOL ETFs are expected to be listed by October at the latest. Once SOL ETFs start to be listed in bulk, ETF buying pressure will also begin to exert its influence.
With the conditions for dual driving forces in place, SOL will also regain its momentum.
From a technical perspective, the SOL/ETH pair has shown daily RSI divergence, signaling an oversold condition. Once SOL/ETH breaks through the short-term supply line resistance, SOL/ETH will also begin to rise, at least rebounding to the resistance area.
This indicates that SOL will likely outperform ETH in terms of price increase and show stronger performance in the near future.
