$SOL
Solana rallies 20% against Ethereum, but is $300 SOL price within reach?
The SOL/ETH trading pair reached new multimonth highs on April 13, following a 30% rally in Solana’s US dollar price over the last seven days. Are more gains ahead?
Solana rallies 20% against Ethereum, but is $300 SOL price within reach?
Altcoin Watch
COINTELEGRAPH IN YOUR SOCIAL FEED
$125.04
has rallied more than 20% against Ether
ETH
$1,577
over the last seven days, and a trader is eyeing a potential breakout to $300, which would mark new all-time highs.
SOL/ETH ratio hits highest weekly close
The SOL/ETH ratio, which reflects the value of Solana in Ether, rose to 0.080 on April 13, marking the highest weekly close ever, according to data from Cointelegraph Markets Pro and Binance.
The SOL/ETH trading pair has been forming higher highs on the daily chart since April 4, suggesting an uptrend is underway.
SOL/ETH daily chart. Source: Cointelegraph/TradingView
The SOL/ETH pair gains follow a bullish week for Solana, which has increased by 35% over the last seven days, against a 13% increase in ETH price over the same timeframe.
“The SOL/ETH chart has just flashed a sign of strength,” said pseudonymous trader Bitcoinsensus in an April 14 post on X, adding:
“Solana has closed its highest weekly close against Ethereum in history, reflecting that we could see continued outperformance of the Solana Ecosystem.”
Previously, the SOL/ETH ratio reached as high as 0.093 in January during a rally in crypto prices fueled by US President Donald Trump’s inauguration, which saw the price briefly notch a new all-time high of $295.
