Solana’s $100 Support Critical as Analysts Foresee Outperformance vs Ethereum but Warn of Pessimism if Breached
Crypto analysts, including Inmortal Crypto and research firm Alphractal, are closely monitoring Solana (SOL) as its $100 price level becomes a pivotal support point. Inmortal Crypto highlighted SOL’s strong momentum versus Ethereum (ETH), noting SOL outperformed ETH during recent market rebounds. With SOL previously surging 65% compared to ETH’s 33%, analysts believe SOL could target new highs, potentially reaching $330, if bullish trends resume. However, Alphractal warns that while metrics like the Sharpe Ratio and Normalized Risk Metric do not signal extreme risk, failure to hold the $100 support could trigger further declines and negative sentiment. Alphractal also suggests that despite ETH’s weaker market performance, it currently presents a better risk-reward profile than SOL and Binance Coin (BNB). For crypto traders, maintaining awareness of SOL’s $100 threshold and overall risk metrics is crucial, as breaking this level may significantly influence future trading strategies and market sentiment.
Bearish
Despite strong historical outperformance by Solana and bullish targets suggested during previous rebounds, the most recent analysis centers on the risk of SOL falling below the key $100 support level. Technical analysts emphasize that a sustained drop under this level could lead to increased pessimism and further declines, outweighing past bullish momentum. Additionally, the improved risk-reward profile for Ethereum relative to Solana may encourage traders to rotate capital, dampening immediate buying support for SOL. Therefore, while there are long-term positive signals, the short-term impact of a critical support breach is considered bearish.