Analysts have started speculating on Solana's ability to repeat Ethereum's 2021 upsurge.
Solana's recent price performance looks incredibly similar to Ethereum's before the 2020 boom.
So far, breaking the $190 resistance level could be the major trigger for a massive Solana pump.
Several analysts seem optimistic, which is a good sign.
The pump to $500 and then to $1,000 is expected to catch investors by surprise.
The crypto market is going through more ups and downs these days, especially as Bitcoin struggles to reclaim the $60,000 mark.
However, amid the volatility, Solana has emerged as one of the best-performing cryptocurrencies, with multiple ripples of speculation over its future.
Solana's relative stability, as well as its popularity, has led to more comparisons with Ethereum.
So far, Experts are now starting to wonder:
The signs are there—How soon will we see Solana copy Ethereum’s past success and rally to $1,000?
The first of these analysts speculating on Solana is 'Kaleo', who believes that the crypto might be set to copy Ethereum's performance from late 2020.
In a recent tweet, the analyst observed that Solana now looks very much like the latter during its previous bull cycle.
Moreover, if the cryptocurrency "manages" to keep this up, the $1,000 mark is a "reasonable target."
Considering that Solana has been bearish at intervals since the beginning of the year but has been mostly bullish, we might see another retest of its yearly high at around the $210 mark.
Even despite the price dips in between, investors seem more convinced than ever of a possible resurgence.
At the time of writing, CoinMarketCap data shows that Solana currently trades at around $139.28, with relative reds across its daily and weekly timeframes.
Solana’s price performance
However, the bigger picture shows that something huge is incoming, and analysts believe so, too.
According to analyst 'Crypto Jack', investors should keep an eye out for a crucial resistance level on Solana’s chart.
The analyst says that if Solana manages to break above the $190 mark, we might see a massive rally, which would birth these new heights for cryptocurrency.
Another analyst, 'Crypto Curb,' observed that Solana has been trading between $120 and $210 for the past 170 days.
This means the ongoing consolidation is overextended and should end sometime soon.
According to the analyst, we might see a sharp price increase should the cryptocurrency break out (above $190 - $210).
Crypto Curb believes that once this consolidation is broken, we should see a “massive move” up to $400 - $500.
He expects more consolidation before we see another upsurge to the $800-$1,000 mark.
Overall, Kaleo presents an interesting correlation between Solana and Ethereum, with both of these cryptocurrencies even directly mirroring each other in terms of price action.
If things play out, Solana's ascent to $1,000 is likely to be swift and generally unexpected.
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