Solana is outperforming Ethereum, with the SOL/ETH ratio surging to record its highest weekly close. This rally has fuelled speculation about whether Solana price will hit $300 before the end of April, at which point it will have reached a new all-time high.
Solana Price Eyes $300 as SOL/ETH Hits Highest Weekly Close
The SOL/ETH weekly chart shows that this ratio recently recorded its highest weekly close in history. The SOL/ETH pair is essentially used to determine the strength or weakness of the underlying coins. In this case, Solana’s strength relative to Ethereum is high.
Additionally, ETH performance has been lackluster in 2024 and that trend is continuing into 2025, which also explains why the SOL/ETH ratio is continuing to hit new highs. Currently, SOL/ETH ratio stands at 0.08 at press time, after recording a 23% gain in the last seven days from the weekly low of 0.065.
SOL/ETH: 1-Week Chart
This surge comes after Solana price rebounded from $108 to $131 after posting a 21% seven-day gain. During the same period, Ethereum gained by only 5%.
The gains posted by SOL/ETH have fuelled speculation among analysts that Solana will flip Ethereum by market cap listing. Analyst Tony noted that the SOL flippening was closer than everyone anticipated.
Meanwhile, TraderSZ opined that besides outperforming Ethereum, Solana price was also outperforming Bitcoin, pointing out that SOL/BTC had flipped resistance at a descending trendline. This further strengthens the case that Solana can realistically reach $300 in April.
SOL/BTC: 1-day Chart
These projections come as a recent Coingape article noted that Solana was on the verge of reaching $300. This prediction follows an analysis by BitBulls who noted that the SOL CME futures chart mirrored the Ethereum bullish breakout in 2021, suggesting Solana price may is on the verge of a massive upswing.
For Solana to reach $300 by the end of the month, it will have to surge by 129% in the next two weeks. Such a rally is not impossible for SOL given that in mid-January, it rallied by 80% within a week.
Solana Blockchain Outpaces Ethereum
Besides outperforming Ethereum in price, Solana is also dominating blockchain activity. Data from DeFillama shows that Solana has recorded the highest DEX volumes in the last three consecutive days. At press time, SOL DEX volumes stood at $2.43 billion, which is notably higher than Ethereum’s $1.75 billion.
Solana DEX Volumes
However, the daily DEX volumes on Solana have dropped by more than 90% since hitting a peak of $35 billion in January this year. This decline follows reduced activity for Solana meme coins on the PumpFun launchpad.
Solana Technical Analysis
Solana’s four-hour price chart shows that bulls are fully in control. The 20-day EMA has formed a bullish crossover with the 200-day EMA. At the same time, SOL continues to trade above the short-term and long-term moving averages, which signals that the uptrend is strong.
The CMF indicator is also positive further suggesting that the buying pressure is currently stronger than the selling pressure. This further highlights a positive outlook and strengthens the bullish case for Solana price.
Amid these bullish signs, the short-term Solana price prediction suggests that a rally to the critical resistance level of $180 is likely to occur.
SOL/USDT: 4-Hour Chart
Considering the gains that Solana is making against Ethereum after the SOL/ETH ratio recorded its highest weekly close, SOL price can reach $300. Moreover, the bullish outlook on the four-hour price chart indicates that Solana may attain this target soon.
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