A popular crypto analyst predicts that the leading altcoin Ethereum (ETH) will be bullish. On the other hand, he also forecasts a decrease for Solana (SOL). Here are the details.
The analyst, known by the crypto market as Pentoshi, noted that the staked rate of ETH, the second largest crypto asset by market capitalization, is now higher than the amount on exchanges. pulled. According to the analyst, the price of Ethereum will likely appreciate as the number of sellers decreases.
“There are now more ETH staked than is available on centralized exchanges. So why didn’t the price go up? There will come a time when anyone who wants to sell will sell and it will gradually stabilize, and then suddenly it will change.”
The popular analyst pointed to the altcoin’s deflationary nature as a factor that will lay the foundation for Ethereum’s recovery. According to the crypto analyst, ETH now has a burning mechanism that makes it deflationary.
“We are probably still a long way from the real bull run. We have never seen ETH in this kind of environment with its new rises. I think we will really see this for the first time after the Bitcoin halving. Deflationary structure in decreasing supply with staking. I will always keep that in the back of my mind when trading this year.”
The analyst, who studies the leading altcoin ETH, also shared his predictions for Solana (SOL). According to the crypto analyst, SOL could drop further between July and September.
“I think you can buy SOL cheaper than its current price in the third quarter.”
You can follow the current price action here.