Is a chart of SOL Market Cap dominance over ETH Market Cap dominance
A VERY bullish chart and classic uptrending chart, following supports/resistances, while playing respects to fibs.
Right now SOL is at 17% the market cap of ETH, expecting this to reach minimum 33% at the 2.618 fib, 50% target after that at the 3.618 fib)
Fundamentally, more on-chain activity is happening on SOL, retails mindshare is on SOL, 0 fees, instant transactions are the future.
A classic case of fundamentals and technicals coming together, typically strong confluence indicator in crypto.
If you have been following me these past couple years, I called SOL at $8 as the bottom and was accumulating heavy under $20. I believe SOL reaches minimum 250B market cap this cycle or $500+ as a very conservative target (see my other charts published).
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