SOL - Solana Hits New Annual High At $58 — Analyst Predicts 'Ethereum Killer' Could Skyrocket To $1000 | Benzinga
Solana (CRYPTO: SOL), once called an ‘Ethereum (CRYPTO: ETH) killer' has experienced a remarkable surge in price, surging by 40% in the past week and reaching a new high for the year 2023 at approximately $58.
What Happened: Crypto analyst Jacob Canfield has conducted a comprehensive analysis suggesting that Solana could be on the verge of an unprecedented market surge. Canfield suggests that Solana could potentially increase its market dominance to the range of 12-15%.
Canfield’s analysis is based on several indicators. He highlights the Solana Dominance (SOL.D) chart, noting that even at its peak market cap, it didn’t surpass 3%. With the current trends and the breakout of SOLBTC from its weekly resistance, Canfield envisions a scenario where Solana could enter a parabolic rally phase.