An experienced crypto analyst suggests that investors holding Solana (SOL) may experience similar market movements to Ethereum (ETH) traders in previous cycles.
During an interview on the Crypto Banter YouTube channel, renowned crypto trader Benjamin Cowen explains that the Solana paired against Bitcoin (SOL/BTC) is displaying patterns reminiscent of ETH/BTC from years ago before reaching a plateau.
“Many altcoins tend to follow a similar pattern, and Solana is currently showing an intriguing pattern that mirrors ETH/BTC. This pattern includes a significant drop, followed by a substantial rally, then higher lows, a fake out, and one final rally before a gradual decline.”
Cowen emphasizes that if Solana experiences a significant decline, there is a possibility of recovery, similar to what ETH/BTC went through. However, he warns that the SOL/BTC pair might enter a prolonged downtrend post-recovery.
“A breakdown doesn’t signify the end. It could mimic the ETH/BTC scenario, where it bounces back in 2025 before gradually fading out in 2026. So, there’s a potential for a similar occurrence.”
Currently, SOL/BTC is trading at $0.0021 BTC ($216), while ETH/BTC is valued at $0.038 ($3,921).
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