Solana (SOL) Could Outperform Ethereum (ETH) by up to 5x in Current Bull Run, Glassnode Co-Founders Say
The co-founders of crypto analytics firm Glassnode, Jan Happel and Yann Allemann, believe that Solana (SOL) has the potential to outperform Ethereum (ETH) by up to 5 times in the ongoing bull run. The duo, who go by the name Negentropic on social media platform X, have analyzed the SOL/ETH chart and believe that the SOL/ETH ratio could witness a significant surge.
According to Happel and Allemann, the chart indicates that SOL has strong momentum based on the Relative Strength Index (RSI), a popular indicator that helps determine whether an asset is overbought or oversold. The co-founders believe that SOL’s RSI suggests a strong upward trend. They also examined the moving average convergence divergence (MACD) indicator, which is used to track potential trend reversals, and concluded that SOL’s MACD looks bullish.
At the time of writing, SOL is priced at $100, while ETH is trading at $2,539. Happel and Allemann predict that SOL could outperform ETH by 4 to 5 times, reaching new heights. However, they also note that Ethereum is expected to rally on its own.
SOL/ETH Chart Suggests Massive Surge in SOL/ETH Ratio, Predicts Glassnode Co-Founders
Glassnode’s co-founders, Jan Happel and Yann Allemann, have expressed their belief that the SOL/ETH ratio could experience a significant surge, indicating SOL’s potential to outperform Ethereum in the current bull run. The analysis is based on the SOL/ETH chart, which highlights strong momentum for SOL.
Taking a closer look at the Relative Strength Index (RSI), Happel and Allemann conclude that SOL has a powerful upward trend, suggesting that it is in high demand. They also reference the moving average convergence divergence (MACD) indicator, which indicates a bullish outlook for SOL’s market performance.
The current price of SOL stands at $100, while ETH is trading at $2,539. With their analysis pointing towards SOL potentially outperforming ETH by 4 to 5 times, Happel and Allemann expect SOL to reach new heights during this bull run. However, they also anticipate Ethereum to experience its own rally.
Glassnode Founders Analyze Momentum Indicators to Support SOL’s Strong Performance
Jan Happel and Yann Allemann, the co-founders of Glassnode, have used momentum indicators to evaluate Solana’s (SOL) market performance. Their analysis suggests that SOL has strong momentum and the potential to outperform Ethereum (ETH) in the ongoing bull run.
Drawing on the Relative Strength Index (RSI), Happel and Allemann conclude that SOL’s momentum is robust. The RSI is an essential indicator used to determine if an asset is overbought or oversold. By analyzing SOL’s RSI, the co-founders believe that SOL is in high demand and likely to succeed.
Next, the co-founders study the moving average convergence divergence (MACD) indicator. This indicator is used to track potential trend reversals. According to Happel and Allemann, SOL’s MACD looks bullish, adding further weight to their belief that SOL will outperform ETH.
With SOL currently priced at $100 and ETH trading at $2,539, Happel and Allemann predict that SOL has the potential to outperform ETH by 4 to 5 times, reaching new highs.
Altcoin Season Poised to Accelerate Market Growth, Says Glassnode Co-Founders
Jan Happel and Yann Allemann, the co-founders of Glassnode, believe that the market for altcoins is poised for acceleration, leading to substantial growth. They note that after a period of consolidation, the next phase for altcoins is acceleration.
Happel and Allemann reference the break-up of the rounding bottom formation, which has been followed by a period of consolidation. They expect the next phase to be an acceleration in the altcoin season, driving up the overall crypto market. They predict that the market will double and triple in value within a matter of weeks to months.
Their optimism is based on the historical patterns and trends of altcoin seasons. Altcoin seasons are periods characterized by increased trading volume and value for cryptocurrencies other than Bitcoin. Happel and Allemann suggest that the current consolidation phase will lead to a significant market surge in the near future.
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Analyst comment
The news is positive. According to Glassnode co-founders, Solana (SOL) has the potential to outperform Ethereum (ETH) by up to 5 times in the current bull run. They base their analysis on the SOL/ETH chart, which suggests strong momentum for SOL. They also reference the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators, which indicate a bullish outlook for SOL’s market performance. The market is expected to see a significant surge in SOL’s value, although Ethereum is also expected to rally on its own.
