Crypto Analyst Who Nailed Price Targets Says Solana Still Poised for $450

Fundstrat's Sean Farrell has been eerily correct with his crypto calls. Not only did he nail Bitcoin's price in 2023 and 2024, but now, he's tripling down on a strong end to the crypto year, with Ethereum and Solana continuing to lead the way.

Echoing Fundstrat founder Tom Lee (who recently also assumed the role of Chairman at Ethereum treasury company Bitmine) Farrell says stablecoin issuance and activity is likely to trigger a surge in activity in the back half of the year. That likely leads to continued Ethereum price increases — which in turn could lift the rest of crypto, including Solana.

"One of the most bullish things for Solana, I think is ETH rerating higher," Farrell explains. "Intuitively all of these [Layer-1s] re-price off of ETH and so, if ETH, continues to show outperformance, I think, you should expect SOL to show some beta to that over longer time horizons and provide a pretty compelling risk award."

Not only that, but Solana still has one catalyst that could come this year that Ethereum doesn't: Looming ETF approvals. While those may seem less important now, given the rise of digital asset treasury companies and the various Solana equivalents implementing Michael Saylor's strategy on Solana, Farrell says staking being approved as well could very well trigger a hotter start than Ethereum ETFs enjoyed.

"We are expecting Solana ETFs sometime this year," he said. "I do think we're probably going to get staking with them." Bloomberg's ETF analysts have assigned a greater than 90% chance that Solana ETFs get approved this year, and odds are looking stronger that the SEC will deliver on the long promise of unlocking staking from the beginning this time around.

According to Farrell, that could still trigger a 2025 run that sends Solana to $450.

"Our loose price target at the beginning of the year was around $450 and I think that that is still in play," he said. "Obviously there's going to be a lot of resistance around that previous all-time high level, but if we are to break that, it's probably not going to stop at at $300."

Solana previously topped out around $295 back in January after a surge of open interest in crypto. Unlike then, Farrell has noted this summer climb has been much more healthy, and indicative of a sustained move higher if all continues to play out as he predicted.

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