Highlights
- Solana has surpassed Ethereum and other chains to rank first in DEX weekly and daily volume.
- Crypto analyst Titan of Crypto predicts that the Solana price can reach $1,500 in this bull run.
- SOL is eyeing a price breakout after a six-month consolidation.
Solana has overtaken Ethereum in weekly and daily DEX volume, a development that has further strengthened predictions that SOL could flip ETH or challenge its dominance in this cycle. Interestingly, crypto analyst Titan of Crypto has predicted that the Solana price can rise to as high as $1,400 in this bull run.
SOL Flips ETH as Analyst Predicts Major Solana Rally to $1,400
Crypto analyst Titan of Crypto has predicted that the Solana price can reach $1,400. The analyst explained that a “massive Bull Flag” might be unfolding for SOL in the coming weeks and months, which indicates that the crypto could reach this price level.
A Bull Flag is a bullish chart pattern that shows that the asset in question is primed for a breakout to the upside, having consolidated for a while. This consolidation period usually comes after a sharp rise and serves as a cooling-off period.
SOL was one of the largest gainers last year, with a price gain of over 1,000%. As such, this consolidation period was to be expected, considering how much it pumped last year.
The analyst’s accompanying chart showed that the SOL price could reach this target between April and July 2025, potentially marking the top for the coin in this bull run. Meanwhile, from the chart, the crypto might not surpass its current all-time of $260 until year-end or the beginning of 2025. In the meantime, SOL could hit $180 by the end of October.
Solana Overtakes Ethereum In DEX Volume
Artemis data shows that the Solana network has overtaken Ethereum in weekly and daily decentralized exchange (DEX) volume to rank number one above all chains. Solana has witnessed a trading volume of $8.6 billion in the last seven days and $1.3 billion in the last 24 hours. At the same time, Ethereum has come in second place with a weekly trading volume of $8.2 billion and a daily trading volume of $772 million.
This metric tracks the trading volume witnessed on all DEXs on these networks. Therefore, this development is significant as it indicates that Solana generates more user interest than Ethereum. Such fundamentals are also bullish for the Solana price since this sustained trend could help trigger rallies for the crypto.
This development has also fuelled further conversations about Solana flipping Ethereum or challenging its dominance in this market cycle. Ethereum is known to boast the top DeFi protocols, a narrative that boosted the ETH price during the 2021 bull run. However, with that narrative looking to change, SOL could easily be the runner in this cycle and threaten ETH’s position as the second-largest crypto by market cap.
Solana Price Analysis: SOL Consolidation Hints At Bull Rally
The Solana price prediction is currently sitting above the 20-week EMA (Exponential Moving Average) after consolidating for six months since April between the $120 and $200 range. The 20-week EMA is essential for determining a crypto’s long-term trend.
Therefore, SOL sitting above this moving average indicates that the crypto is in bullish territory and is ready for its next leg up. A continuous close above this 20-week MA could eventually lead to a massive breakout rally for the coin. This aligns with Titan of Crypto’s prediction, as the next leg up will likely come after the Bull Flag has formed.
From a fundamentals and technical analysis perspective, the Solana price undoubtedly boasts a bullish outlook. It is worth mentioning that Ethena recently announced plans to use SOL as a reserve asset. This again highlights the impressive adoption that the coin is enjoying.
Frequently Asked Questions (FAQs)
1. Could Solana Overtake Ethereum in the Current Market Cycle?
2. Will SOL Flip ETH In Market Cap this cycle?
3. Can Solana Price Reach $1,400?
- World Liberty Financial Discloses Reason for Blacklisting 272 Wallets
- September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data
- Michael Saylor Spotlights Strategy’s Performance Following S&P 500 Snub
- Donald Trump Shortlists Hassett, Warsh, and Waller for Fed Chair
- Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
- ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?