Solana’s fall could spur Ethereum’s price to $3,500 $SOL $ETH

Ether’s price is expected to rise to $3,500 as Solana lags and funds shift from other altcoins to ETH.

Ethereum’s price is expected to rise to $3,500 as funds shift from altcoins such as Solana to ETH.

Ethereum’s net flows hit a new 24-hour high and its stablecoin supply also outperforms other blockchains.

If Ethereum breaks out of its ascending triangle, its price could start a bull run that could eventually reach $3,500.

Ethereum (ETH) price could soon rise to $3,500, driven by Solana’s underperformance. One cryptocurrency analyst notes that funds are flowing back into Ethereum as net flows and stablecoin supply surge. Another analyst notes that Ethereum’s price is about to break out of the consolidation range for a bullish breakout. With market sentiment turning bullish and Solana lagging, is it possible for Ethereum to break out of $3,500?

ETH is trading at $2,675 today, down 1.4% in 24 hours. The trading volume is $18 billion, down 14% in 24 hours.

2 Bullish Signals Support Ether Price to $3,500

X analysts predict that although Ether price has been hovering in the consolidation range of $2,400 to $2,700 for the past seven days, bullish signals are converging that could trigger a new round of gains with prices rising to $3,500. These signals include:

Solana's net inflows into Ethereum have increased significantly

About to break out of the triangle pattern

Solana's net inflows into Ethereum have increased significantly

A CryptoGoos analyst at X noted that Ethereum has seen huge inflows in the past 24 hours. During this period, Ethereum's net inflows topped the list with an inflow of more than $5 million. In contrast, Solana's temporary assets are less than $2 million.

The change in stablecoin supply is also showing a similar trend. In the past 24 hours, ETH's stablecoin supply has exceeded $200 million, while Solana's stablecoin supply has seen outflows in the same period.

resistance level, the price will break through $3,500.