The co-founders of the crypto analytics firm Glassnode think Solana (SOL) could outperform Ethereum (ETH) by up to 5x in the current bull run.
Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the social media platform X, say the SOL/ETH chart suggests the SOL/ETH ratio could surge.
“In other words, SOL may outperform ETH by 4-5X into the crypto top. And Ethereum is going to rally by itself also.”
The chart looks at the Relative Strength Index (RSI), a widely used momentum indicator that aims to determine if an asset is overbought or oversold. The RSI indicates SOL has strong momentum, according to the Glassnode founders.
The chart also examines the moving average convergence divergence (MACD) indicator, a momentum metric that traders use to watch possible trend reversals. Happel and Allemann say SOL’s MACD looks bullish.
SOL is priced at $100 at time of writing. ETH is trading at $2,539.
Happel and Allemann also say that altcoins in general are “ready to fly.”
“We have had a period of CONSOLIDATION after the break-up of the rounding bottom formation. The next phase is ACCELERATION!
This is where the Altcoin Season sends crypto flying. The market will double and triple [in] a matter of few weeks to months.”
Generated Image: Midjourney