Solana Holders May Be In for Same Pain As Ethereum Bulls, According to Analyst Benjamin Cowen – Here’s Why

A broadly adopted crypto analyst says holders of the sensible contract platform Solana (SOL) might expertise the identical ache as Ethereum (ETH) merchants throughout earlier cycles.

In a brand new interview on the Crypto Banter YouTube channel, in style crypto dealer Benjamin Cowen say that Solana linked to Bitcoin (SOL/BTC) is printing the identical patterns as ETH/BTC years in the past earlier than it stagnated.

“Many of those altcoins observe this sample, and I wish to present you this actually attention-grabbing sample from Solana…

Up to now it follows the identical sample – take a look at ETH/BTC. This was a 90% drop, adopted by a 500% rally [and] proper and after that 500% rally, ETH/BTC took this drop and this drop basically created increased lows.

It set increased lows [and] everybody was calling for it to show round. It received [another] drop after which it had one other rally within the merger after which [it slowly descended until now]. Take into consideration that chart: 90% down, 500% up, increased lows, pretend out, one final rally.

After which look [at] SOL/BTC, it is the identical, it is similar.”

Cowen additional notes that merchants mustn’t panic if Solana sees a giant dip as there’s a likelihood it would rebound identical to ETH/BTC did. Nevertheless, he notes that the SOL/BTC pair might enter a long-term downtrend even after the restoration.

“If it breaks, it does not imply it is over. You possibly can have a state of affairs the place it repeats what ETH/BTC did when it broke [and] individuals would possibly suppose that is the tip.

But it surely might very nicely emerge once more in 2025 – precisely what ETH/BTC did – after which begin to fade in 2026, so there’s a likelihood of one thing like that taking place.”

SOL/BTC is buying and selling at $0.0021 BTC ($216), whereas ETH/BTC is valued at $0.038 ($3,921).

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