{"id":22007,"date":"2025-04-14T14:46:51","date_gmt":"2025-04-14T14:46:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22007"},"modified":"2025-04-14T14:46:51","modified_gmt":"2025-04-14T14:46:51","slug":"solana-rallies-20-against-ethereum-but-is-300-sol-price-within-reach","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22007","title":{"rendered":"Solana rallies 20% against Ethereum, but is $300 SOL price within reach?"},"content":{"rendered":"
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\"Solana<\/p>\n

Solana\u2019s SOL<\/a> has rallied more than 20% against Ether (ETH<\/a>) over the last seven days, and a trader is eyeing a potential breakout to $300, which would mark new all-time highs.<\/p>\n

SOL\/ETH ratio hits highest weekly close<\/h2>\n

The SOL\/ETH ratio, which reflects the value of Solana in Ether, rose to 0.080 on April 13, marking the highest weekly close ever, according to data from\u00a0Cointelegraph Markets Pro<\/a>\u00a0and Binance.<\/p>\n

The SOL\/ETH trading pair has been forming higher highs on the daily chart since April 4, suggesting an uptrend is underway.<\/p>\n

\"Solana
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SOL\/ETH daily chart. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

The SOL\/ETH pair gains follow a bullish week for Solana<\/a>, which has increased by 35% over the last seven days, against a 13% increase in ETH price over the same timeframe.<\/p>\n

\u00a0\u201cThe SOL\/ETH chart has just flashed a sign of strength,\u201d said<\/a> pseudonymous trader Bitcoinsensus in an April 14 post on X, adding:<\/p>\n

\u201cSolana has closed its highest weekly close against Ethereum in history, reflecting that we could see continued outperformance of the Solana Ecosystem.\u201d<\/p><\/blockquote>\n

Previously, the SOL\/ETH ratio reached as high as 0.093 in January during a rally in crypto prices<\/a> fueled by US President Donald Trump\u2019s inauguration, which saw the price briefly notch a new all-time high<\/a> of $295.<\/p>\n

Can Solana price reach $300 in April?<\/h2>\n

Popular crypto trader BitBull shared<\/a> a CME futures chart on X that suggests SOL price could break out toward the $300 mark next.<\/p>\n

The trader cited Ether\u2019s price consolidation around $2,000 on the CME chart before breaking out to all-time highs in 2021.\u00a0<\/p>\n

\u201cSOL is now showing a similar structure on the CME futures chart\u201d as it trades with the $120 and $130 range, BitBull pointed out, adding that SOL could follow a similar breakout to all-time highs above $300.<\/p>\n

\u201cJust like Ethereum’s run in 2021, Solana is setting up for a massive move in 2025.\u201d<\/p>\n

\"Solana
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SOL CME Futures chart vs. ETH CME futures chart. Source: <\/em>BitBull<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Related: <\/strong><\/em>Fartcoin rallies 104% in a week \u2014 Will Solana (SOL) price catch up?<\/strong><\/em><\/a><\/p>\n

Chart technicals aside, several onchain metrics suggest that SOL\u2019s path to new all-time highs faces significant hurdles.<\/p>\n

For example, Solana\u2019s network fees dropped more than 97% to $898,235 million on April 14, compared to $35.5 million on Jan. 20.<\/p>\n

\"Solana
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Solana network daily transaction fees, USD. Source: DefiLlama<\/em><\/p>\n<\/figcaption><\/figure>\n

The decline in Solana fees aligns with reduced trading activity on Raydium, Pump.fun, and Orca. At the same time, fees have stayed unchanged since mid-February on other decentralized applications, such as Jito, Moonshot.money, Meteora and Photon.\u00a0<\/p>\n

Similarly, the daily DEX volumes on Solana plummeted to $2.17 billion on April 14, 93% below its Jan. 20 peak of $35.9 billion.\u00a0<\/p>\n

\"Solana
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Solana weekly DEX volumes, USD. Source: DefiLlama<\/em><\/p>\n<\/figcaption><\/figure>\n

Therefore, SOL\u2019s journey toward new all-time highs will be a tough challenge unless there is a notable rise in network activity. <\/p>\n

SOL\u2019s price is up 3% during the past 24 hours to $133 and 54.5% below its Jan. 19 all-time record.\u00a0<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n