A preferred cryptocurrency analyst and dealer is outlining the trail ahead for sensible contract platforms Solana (SOL) and Ethereum (ETH).
The cryptocurrency analyst pseudonymously often called Good Contracter tells his 173,800 Twitter followers that SOL is ready to surge to a brand new file excessive after a interval of accumulation.
“Sol ATH [all-time high] quickly nameless. This re accumulation gained’t final eternally.”
Solana, the fifth-largest cryptocurrency by market cap, is buying and selling at $158 at time of writing, based on CoinGecko.
Earlier this week, Good Contracter predicted that Solana might surge by over 100% in opposition to 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 for my part. The identical low on the USD pair already put in and simply in some HTF [high timeframe] re-accumulation. The subsequent transfer greater will probably be >100% [in my opinion].”
Good Contract makes use of the Elliott Wave idea, a technical evaluation strategy that predicts future value motion by following crowd psychology that tends to manifest in waves. In accordance with the speculation, Wave 4 is the ultimate corrective part earlier than the asset launches the final wave of its cycle.
Within the case of ETH, Good Contracter says that the main sensible 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, based on CoinGecko.
The crypto analyst can be holding a detailed eye on Ethereum in its Bitcoin pair (ETH/BTC). In accordance with Good Contracter, ETH/BTC is at the moment 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 suppose ETH/BTC seems bearish.”
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