Massive Recoveries Coming for Ethereum (ETH) and Solana (SOL), According to Crypto Trader

A widely followed crypto analyst believes that Ethereum (ETH) and one of its competitors are setting up for big recovery rallies.

Pseudonymous crypto trader Kaleo tells his 645,400 followers on the social media platform X that Ethereum could soon soar by double digits after testing the $2,100 level and then breaking out of a descending trendline.

“High $2,100s / low $2,200s then bounce.”

Image
Source: Kaleo/X

Looking at his chart, the trader suggests ETH could soar past $4,000 within months, a more than 64% gain from the current value.

Ethereum is trading for $2,440 at time of writing, down nearly 3% in the last 24 hours.

Next up, the analyst says that Solana (SOL) could revisit its yearly high after catching demand near the $120 range.

“Nearly there.”

Image
Source: Kaleo/X

Zooming out, the trader suggests Solana could increase by more than 186% of the current value, hitting $370 before the end of the year.

Image
Source: Kaleo/X

Solana is trading for $129 at time of writing, down 2.6% in the last 24 hours.

Lastly, the analyst says that he is also bullish on another Ethereum rival, layer-1 blockchain Avalanche (AVAX).

He predicts that AVAX could soar to $45 within months, a gain of more than 108% of the current value.

“Dip started as expected… Still looking to fill low $20s again prior to full send.”

Image
Source: Kaleo/X

AVAX is trading for $21.62 at time of writing, down 2.3% in the last 24 hours.

Comments

Post a Comment

Popular posts from this blog

DeFi CEO Says ‘No One Cares’ to Deutsche Bank Entry into BTC Custody

Deutsche Bank to offer bitcoin custody solution for institutional clients. Cake Group CEO believes the move will not substantially increase capital inflow or attract new participants. Deutsche Bank’s Paul Maley projects the digital asset sector to grow to trillions of dollars. Julian Hosp, the CEO of DeFi business Cake Group, has shared a skeptical reaction to Deutsche Bank’s newly-launched bitcoin custody services for institutional clients. Responding to a post on X (Twitter) by Bitcoin Magazine announcing the bank’s new services, Hosp wrote “Sadly, no one cares”. In full, his response read, And guess what… sadly no one cares… because everyone in Germany can already buy #bitcoin either with an ETF (that has literally ZERO volume) or on an exchange. All these banks entering the space, are not bringing in extra money or people. They are just re-routing existing… https://t.co/MMZHSbGB9U — Dr. Julian Hosp (@julianhosp) September 15, 2023 T...
Read more

Crypto Analyst: PEPE Will Outperform DOGE in Next Bull Cycle

Image
Miles Deutscher predicts PEPE will outperform DOGE in the next bull cycle. Deutscher noted that fewer PEPE holders are underwater compared to DOGE holders. PEPE has more multiples to reach its previous all-time high (ATH) compared to DOGE. PEPE will outperform DOGE in the next bull cycle, predicts Miles Deutscher, a renowned cryptocurrency analyst. In a Twitter post, Deutscher highlighted the reasons behind his prediction. I think $PEPE outperforms $DOGE next cycle. Why? • The Underwater Thesis: Less PEPE holders underwater vs DOGE, meaning less sell pressure on the way up + lower multiples to reach previous ATH (2.8x vs 12x). • People are more fatigued with the DOGE meme, Pepe feels fresher… — Miles Deutscher (@milesdeutscher) June 23, 2023 Deutscher’s first reason for supporting PEPE to outperform DOGE in the next cycle is what he called “The Underwater Thesis.” He noted fewer PEPE holders are “underwater” compared to DOGE holders. By that, he me...
Read more

MATIC Price Plunges, Have the Bulls Finally Lost Control?

Image
MATIC witnessed a decline in bullish momentum and has lost hold of the $0.74 psychological support. Buying pressure was weak as the CMF hovered around the zero line. Traders might likely short/sell MATIC in the near term since the 50 EMA crossed over the 20 EMA. Polygon (MATIC) brief dip below $0.78 has turned out to be an event that has lasted a whopping five days. Over the last 24 hours, the altcoin had lost 2.32% of its value. But its last 30 days’ performance was controlled by the bulls where MATIC increased by 6.61%. Currently, the MATIC/USD 4-Hour chart shows that the altcoin was hovering around a tight support zone at $0.71. Due to decreased demand, MATIC’s buying strength has been cut off. This indicates bearish dominance around $0.72. For MATIC to regain bullish momentum, the price must rise above the $0.74 psychological level. But if selling pressure outweighs demand, then the recovery attempt could be quenched. Furthermore, bears have ...
Read more