A popular cryptocurrency analyst and trader has outlined the path ahead of smart contract platforms Solana (SOL) and Ethereum (ETH). According to the analyst, Solana (SOL) is poised to hit an all-time high.
A cryptocurrency analyst and trader known by the nickname “Smart Contractor” says in a tweet to his over 173,000 Twitter followers that SOL is poised to rise to a new record high after a period of accumulation.
Solana, the fifth largest cryptocurrency by market capitalization, is trading at $158 at the time of writing, according to CoinGecko.
The “Smart Contractor” claimed earlier this week that SOL could rise above 100% against the US Dollar and BTC after completing the fourth wave of a five-wave uptrend.
“(Wave ‘Wave’), I think is a fourth low very close to breaking into SOL/BTC. The US dollar pair (SOL/USD) has already entered some HTF (high time frame) reaccumulation. I think the next move will be over 100%.”
The analyst performs an analysis using the “Elliott Wave” theory. This is how this analyst interpreted the price action of the SOL, following the crowd psychology that tends to manifest in waves. According to the theory, the “fourth wave”; It represents the final stage of correction before the last stage of the asset cycle begins.
According to the analyst, the leading name of smart contract platforms thinks that ETH has not finished its run yet after removing the diagonal resistance at $ 3500.
According to CoinGecko, Ethereum is trading at $3,785 at the time of transaction.
The analyst is also examining the status of ETH in BTC cross-trading (ETH/BTC). According to the analyst, ETH/BTC is currently in preparation for a move to 0.12 BTC ($7355) and has the potential to rise nearly 100% from its current value of $3800 to 0.063 BTC.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.