When Will Ethereum Return to $3500 and Solana to $220? A Mid-Term Price Outlook

Ethereum and Solana have seen significant shifts in their prices recently. Investors are eager to know when these coins might hit the high marks of $3500 and $220 again. This article explores the mid-term outlook for these popular cryptocurrencies, shedding light on factors that could drive their next big move.

Ethereum Market Trends: Positive Monthly Shift Amid Yearly Setback

Over the past month, Ethereum showed a modest recovery with a 5.20% increase, even though recent gains contrast with a broader 9.79% downturn over the last six months. The price movement reflects a short-term rebound amid longer-term weakness, indicating that while recent activity has boosted confidence, the half-year performance points to lingering headwinds. The coin's behavior during these periods shows that although there is some renewed interest and momentum in the short run, overall sentiment remains cautious due to the decline.

Current trading sees Ethereum moving within a price range between $2110.94 and $2870.47. Key support resides at $1735.29, with stronger support around $975.77. Resistance is positioned near $3254.35, with an upper target around $4013.88. Bulls appear to have some control, as seen in a 14.26% price gain over a week and positive monthly performance. However, the high RSI of 71.76 signals potential overbought conditions. There is no clear trend, making the market range-bound, suggesting traders should track price action near these levels. Short-term ideas could involve capitalizing on recoveries near support levels for buying opportunities and watching resistance for potential exits.

Solana Market Snapshot: Short-Term Bulls Amid Mid-Term Caution

Solana price movement over the past month showed a slight dip of 0.39% while the weekly change climbed 7.84%. Over the last six months, the coin lost around 12.59% of its value, reflecting a downward trend. The figures indicate a mix of short-term gains and extended weaknesses. The coin’s price behavior has seen some recovery in the short term, yet momentum struggles over a half-year reinforce a need for careful monitoring. Changes reveal the asset's volatility with weekly upticks not fully balancing longer-term declines.

Current trading levels are set within a range of $131 to $173.35, with immediate resistance noted at $191.79 and support at $107.89. A second resistance level appears at $233.74, while a further drop could be seen near $65.94. Bulls are making slight advances with an RSI near 62 and a weekly gain of 7.84%. The lack of a solid upward trend means the market remains unsettled. Trading ideas include targeting support around $107.89 for potential bounces, while resistance levels present opportunities to sell on strength. Caution is advised as traders engage in short-term strategies amid the longer-term downtrend.

Conclusion

ETH and SOL have the potential to reach their previous highs of $3500 and $220. This depends on several factors, including market trends and overall adoption. A strong development roadmap and increased usage could drive prices up. Investors should keep an eye on key updates and market signals. It may take some time, but both cryptocurrencies show promise for future growth.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.