ETH and SOL Predicted to Begin 2020-style Rise: Analysts Reveal Path to New Records

Jakarta, Pintu News – A prominent crypto market analyst known by the pseudonym Inmortal stated that Ethereum (ETH) has the potential to start a major rally like in 2020. He pointed to the similarity of ETH’s current chart structure to the consolidation phase that occurred five years ago before Ethereum reached its all-time high.

At that time, ETH plummeted from $200 to $86 due to the COVID-19 crisis, but then surged to a peak of $4,868. Based on the three-day chart pattern, Inmortal expects Ethereum to continue its current consolidation before surging to $3,800 (around Rp62,658,200, assuming 1 USD = Rp16,489) next month.

Ethereum Price Predictions and Technical Validity

ETH is currently trading at around $2,479. According to Inmortal, market support and technical patterns suggest there is potential for a strong bullish movement, provided the consolidation holds steady.

While not all analysts agree that historical price patterns can be used as leading indicators, the “history rhymes” approach is often used as a reference in technical analysis, especially in speculative asset markets such as cryptocurrencies.

Also Read: Bitcoin Approaches Golden Cross: Bullish Signal Amid US Debt Concerns

Solana (SOL): New Record Target

Solana (SOL), as Ethereum’s main competitor in terms of efficiency and transaction fees, is also the subject of Inmortal’s analysis. It predicts that SOL will experience a pause in price movement in the next few weeks before starting a rally towards the $320 level.

The key downside level according to him is $180 (approx. IDR2,968,020), and after that, the path to new highs is believed to open up. At the time of writing, SOL is trading at around $165 (approx. IDR 2,721,685).

Bitcoin: Path to the Next Record

Not only Ethereum and Solana, Inmortal also expressed his views on Bitcoin (BTC). He predicts that BTC will move in a path between $96,000 – $120,000 (approximately Rp1.582 billion – Rp1.978 billion). Currently, Bitcoin is trading at around $103,244 (Rp1,702,586,716).

If the prediction materializes, then these three major cryptocurrencies-Bitcoin, Ethereum, and Solana-could potentially lead a new bull cycle in the cryptocurrency market.

Conclusion

Based on technical analysis and historical patterns, Ethereum and Solana show significant growth potential similar to the 2020 movement. While there is no guarantee of results in the crypto market, this analysis provides interesting insights for investors who follow medium-term trends.

Investors are advised to consider the risks and continue to conduct thorough fundamental and technical analysis before making investment decisions.

Also Read: XRP Strengthens After V-Shaped Recovery, Next Price Target IDR56,000?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• The Daily Hodl. ‘History Rhymes’ – Analyst Sees Ethereum Sparking 2020-Style Rallies, Outlines Path to New All-Time High for Solana. Accessed May 19, 2025.
• Featured Image: LinkedIn