The broader cryptocurrency market has registered a solid uptick over the past week, with Solana (SOL) standing out as one of the biggest gainers.
Ethereum briefly climbed past $2,500, prompting analysts to turn even more bullish on the asset, while Bitcoin may not be out of the woods yet.
SOL’s Pump
Solana’s native token has soared by 40% over the past week, and earlier today (August 28), it jumped to almost $110, its highest level witnessed since January this year. As of this writing, it trades at around $105 (per CoinGecko), boasting a market capitalization of roughly $61 billion.
The improved condition of the crypto sector appears to be the main catalyst for the ascent, while rising institutional interest may also be a positive factor. According to SoSoValue, spot SOL ETFs have recorded eight consecutive green days; the last time this was observed was in May 2026. Another optimistic element is the return of the whales, some of whom spent millions of dollars to re-enter SOL’s ecosystem.
Analysts on X are predominantly bullish on the asset. Daan Crypto Trades claimed that everything “looks good” as long as the price remains above $98, whereas SKYLINE argued that it is only a matter of time before SOL rises beyond $150. X user Fuel is even more optimistic, envisioning an eventual explosion to $1,000.
Meanwhile, Sweep took a cautious tone, saying that a collapse to $70 remains possible. However, “after that, Solana will go parabolic,” he added. If you are curious to check additional SOL forecasts, take a look at our video here.
What’s Next for ETH?
Several hours ago, the second-largest cryptocurrency briefly surpassed $2,500 before slightly retreating below that level. That mark seems to be a major turning point, with X user Gerla suggesting that a clean break above could mark the beginning of a new bull run.
For his part, Ted claimed that a weekly close beyond $2,550 could be followed by a further pump to $3,000. The shrinking amount of ETH stored on exchanges supports the bullish outlook. According to Santiment, holders have withdrawn 1.4 million coins from centralized platforms since June, effectively decreasing immediate selling pressure.
Of course, there are some pessimists as well. X user Nonzee, who recently envisioned a short-term crash in BTC to $45,000, opined that ETH could nosedive to $1,500 before starting a fresh rally.
BTC in Danger
The primary cryptocurrency has been hovering in the $79,000-$81,000 range over the past few days, indicating a strong uptrend relative to levels at the beginning of the month.
Nonetheless, some market observers did not rule out a possible collapse ahead. Gerla believes that BTC must take a clean break above $82,000 or otherwise it risks falling below $60K. X user cyclop shared a similar thesis, claiming that if the asset fails to hold beyond $83,000, it could drop to $50,000 by November.
The analytics platform CryptoQuant is more optimistic, arguing that the current conditions may represent the early phase of a bull run. At the same time, the firm noted that the price needs a daily close above $83,000 for confirmation.
The post Solana’s (SOL) Strong Rally, The Latest Ethereum (ETH) Forecasts, and More: Bits Recap August 28 appeared first on CryptoPotato.
