Solana Price Prediction: Analyst Says SOL Is Showing the Same Bullish Pattern ETH Did in 2020 – $600 Is the First Target 

Solana is starting to mirror the kind of setup that launched Ethereum from $100 to $4,300 during the last major cycle — and it’s adding serious weight to the bullish Solana price outlook this time around.

The fundamentals are stacking fast. Solana has now led all Layer 1 and Layer 2 blockchains in network revenue for an impressive 18 weeks in a row.

Meanwhile, tokenized real-world assets (RWAs) on Solana are growing faster than on Ethereum, with a 200%+ increase year-to-date according to RWAxyz.

And while Ethereum has already broken into traditional finance with its approved spot ETF, Solana could be next.

The big date to watch is October 10 — the SEC’s deadline for a potential spot SOL ETF. If approved, it could unlock a flood of new demand and push Solana into entirely new price territory.

BREAKING:

BLOOMBERG’S ETF ANALYSTS RAISE APPROVAL ODDS FOR MOST SPOT CRYPTO ETFS TO 90%+

BULLISH! pic.twitter.com/x5LK8LFOD0

This goes hand in hand with the CLARITY ACT, also expected around October, which stands to unlock sidelined demand from institutions waiting on regulatory clarity.

At $190 and rising 35% in the past month, SOL has broken a key downtrend and formed a bullish ascending channel that echoes Ethereum’s 2020 rise from $100 to $4,300.

While the most recent retest of this channel met rejection, SOL now appears to be gearing up for a breakout, with a potential double bottom forming at the $176 support level.

Momentum indicators back the case for a reversal. The RSI is climbing after tapping oversold territory at 30, suggesting that buyers are stepping in as sell pressure exhausts.

Similarly, the MACD histogram is beginning to flatten below the signal line, often an early sign of a reversal on the 4-hour time frame, indicating the recent downtrend may be losing steam.

If ADA can bounce from current levels, the key breakout point lies at the double bottom neckline around $195, which could open the path to retest the channel at $210.

With a channel breakout here, the Solana price could advance to retest the channel’s upper resistance, setting the stage for a 64% breakout to $300 if successful.

With growing TradFi interest, pending ETF proposals, and rising adoption across RWA platforms and DeFi, Solana may be positioned to follow Ethereum’s 2020 parabolic breakout.

That puts long-term price targets of $600 up to $1,000 in play if this structure holds.

When it comes to large coins like SOL, gains are limited. Explosive breakouts take months to build, and pan out in a fraction of that time—holder spend most of their time waiting.

Meanwhile, the low-cap meme coins in its ecosystem are printing 10-100x gains as altcoins season sentiment builds.

That’s where Snorter ($SNORT) steps in. Its purpose-built trading bot is engineered to spot early momentum, helping investors get in before the crowd, where the real gains are made.

While trading bots are not a new concept, Snorter has been designed specifically for sniping with limit orders, MEV-resistant token swaps, copy trading, and even rug-pull protection.

It’s one thing to get in first, it’s another thing to know when to sell—Snorter Bot can help.

The project is off to a strong start—$SNORT has already raised over $2.2 million in its initial presale weeks, likely driven by its high 165% APY on staking to rewards early investors.

You can keep up with Snorter on X, Instagram, or join the presale on the Snorter website.

The post Solana Price Prediction: Analyst Says SOL Is Showing the Same Bullish Pattern ETH Did in 2020 – $600 Is the First Target  appeared first on Cryptonews.