A preferred cryptocurrency analyst and dealer is outlining the trail ahead for good contract platforms Solana (SOL) and Ethereum (ETH).
The cryptocurrency analyst pseudonymously often known as Good Contracter tells his 173,800 Twitter followers that SOL is about to surge to a brand new file excessive after a interval of accumulation.
“Sol ATH [all-time high] quickly nameless. This re accumulation received’t final endlessly.”
Solana, the fifth-largest cryptocurrency by market cap, is buying and selling at $158 at time of writing, in line with CoinGecko.
Earlier this week, Good Contracter predicted that Solana might surge by over 100% towards the US greenback (SOL/USD) and Bitcoin (SOL/BTC) after ending wave 4 of its five-wave uptrend.
“[Wave] 4 low very near being put in on SOL/BTC in my view. The identical low on the USD pair already put in and simply in some HTF [high timeframe] re-accumulation. The following transfer increased might be >100% [in my opinion].”
Good Contract makes use of the Elliott Wave concept, a technical evaluation strategy that predicts future worth motion by following crowd psychology that tends to manifest in waves. In keeping with the idea, Wave 4 is the ultimate corrective section earlier than the asset launches the final wave of its cycle.
Within the case of ETH, Good Contracter says that the main good contract platform hasn’t run out of steam but after taking out its diagonal resistance at $3,500.
“Stable transfer. I believe there’s nonetheless some juice within the tank.”
Ethereum is buying and selling at $3,785 at time of buying and selling, in line with CoinGecko.
The crypto analyst can also be maintaining an in depth eye on Ethereum in its Bitcoin pair (ETH/BTC). In keeping with Good Contracter, ETH/BTC is presently gearing up for a transfer to 0.12 BTC ($7,355), representing an upside potential of almost 100% from its present worth of 0.062 BTC, value $3,800.
“There [are] folks on the market that really assume ETH/BTC appears bearish.”
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