Altcoins
Two analysts set targets for these two altcoins: strong growth expected!
A cryptocurrency analyst with a large following believes that the leading altcoin Ethereal is close to hitting the mid-cycle bottom. Another popular analyst predicts that Ethereum rival Solana could rise to $600 based on its 2021 performance.
“It’s time for the big rally for the major altcoin!”
How did you follow? Kriptokoin.comThe market continues to gather strength for a new rally. In particular, the expectation that Ethereum spot ETFs will be approved in mid-July is supporting the leading altcoin. Ethereum is about to complete the corrective wave ABC, says the analyst nicknamed Bluntz. The analyst applies the Elliott Wave Theory, which states that a consolidating asset tends to undergo an ABC correction before triggering a new five-wave rally. In this context, Bluntz shares the following assessment.
Looking at ETH/USD, we are basically back at the lows, but it would be very strange for us to move higher from here… I think eventually ETH It has to break above $2,800, hit the lows and bounce back and then we’ll eventually have what looks like a real ABC dip in Ethereum… I think we’re going a little bit sideways here in ETH and hit the lows and then try to bounce back.
Source: Bluntz
According to the analyst, Ethereum The ABC correction will eventually resolve to the upside. This will take ETH to an initial all-time high of $6,000 before pulling back and rising to a cycle high of $8,000. In this regard, the analyst states the following:
I still believe in it ETH has yet to experience a major rally and I think it will definitely happen in this cycle. It’s just a little late. It will probably be triggered by the narrative of the Ethereum ETF, which is rumored to be coming out any day now. Everyone is talking about it, everyone is expecting it to be big bullish news for ETH. I think what will most likely happen is that ETH will sell off first, see the lows, and then start getting heavily bid up.
Analyst: Solana is aiming for $600!
Solana has been making strong moves in the market recently as its price recovery continues. With the recent price surge reaching $141.7, Solana appears to be building strong resistance at this price. Meanwhile, Crypto Jelle, a well-known cryptocurrency analyst, has expressed bullish sentiments on Solana, drawing parallels between its current market behavior and its performance in the summer of 2021. The analyst believes that Solana is expected to rally to around $600. According to Jelle, Solana has been consolidating for months, making lower highs while holding the same support area in a move similar to those seen in mid-2021.
Jelle also notes that Solana recently bounced off the mid-point of its weekly relative strength index (RSI), just as it did in July 2021. This suggests that Solana may be poised for a big price move. Jelle is confident that this pattern will repeat itself and is heavily invested in Solana, targeting a price of $600. This is much higher than its current price and indicates great growth potential.
The opinions and forecasts contained in the article are those of the analysts and do not constitute investment advice. Kriptokoin.comWe strongly advise you to do your own research before investing.
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