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Solana broke neatly above $ 180, rally 5% in the day and surpassed Ethereum. Is there with signs that point to a new wave of capital rotation, a run to $ 200 next?
A subtle but remarkable divergence starts to form between Solana [SOL] and Ethereum [ETH].
ETH has dominated the higher timetables and almost 2x profits on both weekly and monthly candles.
However, Sol just placed a sharp daily movement of 5.25%, by breaking the supply wall of $ 185 and this month cleaning up the third key resistance.
More interesting is that the SOL/ETH ratio, which had been in a downtrend of two weeks, finally dragged the RSI in sold-in territory, finally returned with a bounce of 2.7% Intra-Day.
Source: TradingView (SOL/ETH)
Historically, this level has previously acted as a solid bounce zone. Back in the August-November 2024 cycle saw a similar step of this SOL support perform better with 2.5x, which means that almost 98% of the $ 129 base was torn.
Now that ETH is approaching the $ 4K marking, signs of the buyer’s fatigue are starting to get to the surface. It is not necessarily a breakdown setup, but a cooldown here can open the door for more rotation.
If that takes place, could Solana prepare for an outbreak of $ 200 on the back of a relative power reimbursement?
Greed takes as Solana Reclaims Key Supply Zone
Solana has just cleaned up a big obstacle on the chain.
The URPD shows a densely realized volume cluster between $ 165- $ 185. This zone in particular has been as a resistance since the middle of Q1, when Sol broke underneath and catching many holders under water.
Now that the price is now reclaiming the range, most positions are again profit. In a bullmarkt, that kind of Flip adds a serious momentum to the outbreak when greed starts to go into.
Source: Glassnode
Add an overloaded ETH/BTC ratio to this, growing signs of ETH overvaluationA reversal in the SOL/ETH couple and Sol that breaks through resistance levels through several weeks, and the setup is relative outperformance.
If this rotation applies, we could look at the early stages of a trend removal, with $ 200 for Solana that starts to look more like a basic line than a stretch -in -white.