Solana is printing extremely similar chart of what eth did in 2016-18. It looks almost the same, although i don't think sol will go that far in terms of percentages as eth did back then. Largely because of the current market cap and use case, where eth is practically a gas for other similar projects to be build on.
As we don't have any historical data to be relaying on, it is still largely a guess where the price could reach. From what i've seen in 2017 lots of new coins went to the full fib. extension, which was extended over recent major correction and consolidation. For the fully extended fibs, 0.236 ext has to sit on top of the range and 0 on the bottom. Something similar did BitShares (BTS) in 2017 (will show in the update).
I would expect more positive price action from Solana as it brakes above and find support on that rising trend line that we broke recently.
I am not a financial advisor so non of this should be taken as a financial advise.
SOLUSDT
As we don't have any historical data to be relaying on, it is still largely a guess where the price could reach. From what i've seen in 2017 lots of new coins went to the full fib. extension, which was extended over recent major correction and consolidation. For the fully extended fibs, 0.236 ext has to sit on top of the range and 0 on the bottom. Something similar did BitShares (BTS) in 2017 (will show in the update).
I would expect more positive price action from Solana as it brakes above and find support on that rising trend line that we broke recently.
I am not a financial advisor so non of this should be taken as a financial advise.
SOLUSDT
Comment:
BTS 2017 bull run went full extension.
Comment:
And a visual comperisment of the eth and solana chart side by side...
On the top there is eth 2016-18, below is solana now.
On the top there is eth 2016-18, below is solana now.