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The SOL/ETH trading pair reached new multimonth highs on April 13, following a 30% rally in Solana’s US dollar price over the last seven days. Are more gains ahead?
Solana’s SOL has rallied more than 20% against Ether (ETH) over the last seven days, and a trader is eyeing a potential breakout to $300, which would mark new all-time highs.
The SOL/ETH ratio, which reflects the value of Solana in Ether, rose to 0.080 on April 13, marking the highest weekly close ever, according to data from Cointelegraph Markets Pro and Binance.
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The SOL/ETH trading pair has been forming higher highs on the daily chart since April 4, suggesting an uptrend is underway.