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.
SOL/ETH ratio hits highest weekly close
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.
The SOL/ETH trading pair has been forming higher highs on the daily chart since April 4, suggesting an uptrend is underway.
SOL/ETH daily chart. Source: Cointelegraph/TradingView
The SOL/ETH pair gains follow a bullish week for Solana, which has increased by 35% over the last seven days, against a 13% increase in ETH price over the same timeframe.
“The SOL/ETH chart has just flashed a