Interesting Ethereum (ETH) and Solana (SOL) Price Predictions

TL;DR

• ETH surged substantially in the past weeks, with analysts eyeing $2,800–$12,000 as potential targets, comparing its rebound to BTC’s post-COVID rally.

• SOL climbed 20% weekly, with over 11 million wallets now holding 0.1+ SOL – suggesting rising retail interest that could fuel a further pump.

What’s Next for ETH?

The second-largest cryptocurrency stole the show in the past several days, with its valuation rising by almost 40% on a seven-day scale. Earlier this week, it crossed $2,600, the highest point since late February. In the last 24 hours, it witnessed a slight retracement and currently trades at just south of $2,500.

ETH’s strong rebound has sparked widespread excitement in the crypto space, with numerous X users speculating that the rally is just getting started. For instance, the analyst with the moniker CRYPTOWZRD envisioned a further upside toward the resistance of $2,800. 

“Once Bitcoin regains confidence, Ethereum should see a quick upside move towards $2,800 and beyond,” they added.

Crypto Tony and Reed Carson also weighed in. The former claimed that a breakout above $2,750 could push the price to levels not seen since last year. Reed Carson argued that ETH’s dump below $1,400 in April was very similar to BTC’s crash under $4,000 during the COVID-19 crisis in the spring of 2020. 

They believe that in both cases, the plunge resulted from economic uncertainty and panic selling. The analyst reminded of BTC’s price explosion in the following years, predicting that ETH can follow a similar path and hit $10,000 or even $12,000 by the peak of the bull cycle. 

Another X user who gave his two cents is the well-known analyst Michael van de Poppe. He expects “shallow corrections” but sees such a scenario as a buying opportunity:

“If the markets provide a correction, then I’d be interested in anything between $2,100-2,250 for ETH.”

SOL’s Targets

Solana’s SOL has also caught the recent green wave in the crypto sector, albeit charting less substantial gains than ETH. As of this writing, it trades at roughly $174, representing a 20% weekly increase.

Among those touching upon the asset’s next potential targets was KALEO. The X user told his almost 700,000 followers that SOL is “slowly but surely grinding higher.” 

“I still believe this move back from the lows results in a god candle that sends straight to new all-time highs sooner rather than later,” they claimed.

Just a few days ago, the analyst forecasted that Solana’s price could explode to a staggering $1,000.

For his part, Ali Martinez recently said that SOL has reached “a critical resistance area” at $175. He also revealed that the number of wallets holding at least 0.1 tokens has surged past 11 million in the past two weeks. 

The development signals that more people have entered the ecosystem. The low threshold of just 0.1 SOL suggests that many of the newcomers could be retail investors, potentially acting as a precursor to a further price rally.