Despite being beaten off the starting line by Solana and other altcoins, some traders now believe Ethereum is primed for a move.

After being drastically outperformed by Solana SOL $103 for the past three months, the price of Ether ETH $2,374 suddenly spiked 8.9% in the last 24 hours, leading to some bullish sentiment returning to Ethereum.

“The revenge of the ETH is starting,” wrote Jordi Alexander, the chief investment officer at Selini Capital, in a Dec. 27 post to X
Alexander pointed to a recent rally across several altcoins and Michael Saylor buying another $615 million worth of Bitcoin on Dec. 26 as solid foundations for ETH to make an upside move over the next few weeks.

“The risk/reward on Ether is so compelling here, that I see a liquidity black hole now forming in January,” he added.

Pseudonymous trader Pentoshi added his bullish target for Ether, posting a semi-cryptic chart to X with an approximate price target of $3,485.
“Slowly, then all at once,” he added.

The conflict between community members from the Solana and Ethereum ecosystems reached a fever pitch over the last few weeks.

While Ether has gained 102% year-to-date, its price performance has been dwarfed by that of Solana, which has posted a whopping 951% gain since the beginning of this year, per TradingView data.

Ether’s 102% gain was dwarfed by Solana’s staggering 951% year-to-date rally. Source: TradingView

This outsized price performance, along with a tidal wave of relative on-chain activity, led many to assert that the networks’ lower fees and faster settlement times made it the superior blockchain when compared to Ethereum.

Source - Coin Telegraph