However, the crypto analyst has spotted a significant similarity between ETH and SOL’s prices when examining the price action over longer time frames. Related Reading: Bitcoin Falls Out Of Step With US Equities, What This Could Mean For The Crypto Market Marty highlights that Ethereum and Solana have experienced substantial drawdowns following their respective rallies.
Related Reading: XRP Set To Skyrocket 60,000% On Tightest Bollinger Bands Ever: Analyst In the event of a renewed bullish surge in SOL’s price action, the primary objective for bulls is to surpass the $150 level; this would pave the way to confront the most notable threshold for bears at $170, a resistance level that has persisted for four months. Overcoming this hurdle would potentially unlock further upward momentum, with targets set at $190 and, subsequently, the $200 mark.
Building on the similarities between Ethereum’s historical price action and Solana’s current performance, Marty predicts a similar price explosion lies ahead for SOL. Based on his analysis, Marty believes that the market has been around 619 days since the Solana drawdown.
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