Solana (SOL) has surged over 20% against Ethereum (ETH) in the past week, sparking fresh speculation about a return to its all-time high — and possibly a breakout to $300.
On April 13, the $SOL /$ETH ratio hit 0.080, marking its highest weekly close ever, according to data from Binance and Cointelegraph Markets Pro. This bullish momentum follows a 35% rally in SOL’s USD price over the past seven days, far outpacing ETH's 13% rise.
Pseudonymous trader Bitcoinsensus noted that the chart is flashing a clear “sign of strength,” predicting further outperformance from the Solana ecosystem.
Meanwhile, popular trader BitBull compared SOL’s current CME futures chart to ETH’s breakout pattern in 2021, suggesting Solana could be setting up for a similar run toward $300 — a move that would push it to new all-time highs.
However, onchain metrics present a mixed outlook. Solana’s daily network fees dropped 97% since January, signaling a major decline in user activity. Decentralized exchange (DEX) volumes on the network also plunged from $35.9 billion to $2.17 billion, a 93% drop.
While the technical setup hints at further upside, Solana’s path to $300 likely depends on a strong revival in network usage and ecosystem traction.
At press time, $SOL is trading at $133, still 54.5% below its all-time high from January 2024.
