Ethereum

Solana

Bull Market

Bitcoin

Jupiter

A <a href="https://k33.com/research/articles/staying-versatile?product=pro&amp;checkout=success" target="_blank" rel="noopener noreferrer nofollow">recent ‘Navigating Narratives’ report</a> by <a href="https://bitcoinist.com/cardano-sell-all-their-ada/" target="_blank" rel="noopener noreferrer nofollow">K33 Research</a> provided insights on how to trade altcoins. Interestingly, as part of their analysis, they highlighted <a href="https://bitcoinist.com/solana-founder-doesnt-want-network-to-be-called-ethereum-killer-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Solana (not ETH)</a> as the main focus and elaborated on why this was so.&nbsp;
<h2 id="b-why-solana-is-the-main-focus-b">Why Solana Is The Main Focus</h2>
The report, written by DeFi Analyst David Zimmerman, stated that they were focusing primarily on buying SOL if there was an opportunity to buy lower. They claim the reason for this is that “SOL has <a href="https://www.newsbtc.com/news/solana-is-not-done-analyst-identifies-bull-flag-that-will-trigger-massive-rally-above-150/" target="_blank" rel="noopener noreferrer nofollow">solidified its place</a> in the market as one of the market leaders.” They also expect that SOL’s outperformance of ETH will continue in this market cycle.&nbsp;
Meanwhile, Zimmerman highlighted how SOL’s on-chain activity has continued to flourish and noted that the narrative of SOL being ETH’s main competitor was still intact. The <a href="https://bitcoinist.com/solana-network-celebrates-major-milestone/" target="_blank" rel="noopener noreferrer nofollow">Solana network</a> has long been dubbed the “Ethereum Killer,” with the belief that the <a href="https://bitcoinist.com/jupiter-uniswap-solana-ethereum/" target="_blank" rel="noopener noreferrer nofollow">former will dethrone the latter</a> at some point.&nbsp;
Indeed, Solana has gone toe-to-toe with Ethereum in recent times, momentarily surpassing it in significant metrics. Back in December, <a href="https://www.newsbtc.com/news/solana/solana-headed-to-100/" target="_blank" rel="noopener noreferrer nofollow">Solana ranked above Ethereum</a> in seven-day DEX volume for the first time in history and outperformed it in NFT trading volume during that same period. More recently, <a href="https://bitcoinist.com/jupiter-uniswap-solana-ethereum/" target="_blank" rel="noopener noreferrer nofollow">Solana’s Jupiter outranked Ethereum’s Uniswap</a> in daily trading volume.&nbsp;
SOL also outperformed ETH last year, with the former seeing a gain of about 1000%. Crypto analyst Santiago Santos also <a href="https://www.newsbtc.com/news/solana/solana-ethereum-ico-boom-sol/" target="_blank" rel="noopener noreferrer nofollow">recently gave his opinion</a> on Solana and Ethereum’s fight for dominance. Comparing Ethereum’s run during the ICO boom to Solana’s current run, he noted that Solana had an edge since it has “applications seeing meaningful usage and growth.”&nbsp;
This happens to be one of the reasons he believes that Solana will “converge on Ethereum faster than most believe.”
<h2 id="b-what-price-levels-present-buying-opportunities-for-sol-b">What Price Levels Present Buying Opportunities For SOL</h2>
Having explained why SOL was the main focus among altcoins, the Navigating Narratives report highlighted price levels they were eyeing in case in case the market gives <a href="https://www.newsbtc.com/news/solana/analyst-solana-risk-pullback-here-is-target/" target="_blank" rel="noopener noreferrer nofollow">deeper pullbacks for SOL</a>. These levels <a href="https://www.newsbtc.com/news/solana-enjoys-better-pastures-as-sol-blows-through-70/" target="_blank" rel="noopener noreferrer nofollow">include the $70</a>, $50 and $30 price range.&nbsp;
However, they noted that they weren’t expecting the $30 buy order to be filled since it would require a crash like the one that happened in March 2020. This <a href="https://bitcoinist.com/bitcoin-crashes-under-6k-on-bitmex-crypto-market-sheds-56-billion/" target="_blank" rel="noopener noreferrer nofollow">was the period</a> when Bitcoin lost almost half of its value in a two-day plunge. Other crypto tokens also experienced similar pain then.
Meanwhile, if SOL continues to rally, K33 Research highlighted the $115 and $140 price ranges as ideal areas for selling and taking profits.&nbsp;
At the time of writing, SOL is trading at around $99, up in the last 24 hours according to <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">data</a> from CoinMarketCap.&nbsp;
Featured image from Adobe Stock, chart from TradingView

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