A crypto strategist and trader closely followed by the crypto community shared an Ethereum competitor that he believes could rise to all-time highs faster than many altcoins.
The analyst, using the pseudonym Credible, has 276,300 Twitter followers on the Ethereum (ETH) rival smart contract platform. Solana (LEFT) He says he’s watching closely.
Credible Crypto predicts that SOL will hit new record highs of around $300 early next year.
“SOL held up extremely well during this downturn and completely reversed its downward move. In my opinion, it will be one of the first to recover and one of the first coins to reach an all-time high.”
Regarding Ethereum, Credible said it expects the leading smart contract platform to rally against Bitcoin (ETH/BTC) as the pair remains in good shape during the deep crypto correction over the weekend.
“ETH/BTC staying strong during this major liquidation event is all you need to know to buy from this jarring bottom.”
As for Bitcoin, the crypto analyst believes that last weekend’s crypto correction puts BTC in a position to ignite the last leg of its bull cycle.
“And with that said, I believe we have most likely completed our fourth major wave… Keep in mind that our first and third wave both took about six months to complete. And if the same happens in our fifth wave, that would allow us to hit the top of this bull cycle by mid-2022.”
The crypto strategist relies on Elliott Wave theory, a technical analysis approach that predicts future price action by following crowd psychology, which tends to manifest in waves. The theory is that a bull market progresses in five distinct waves, with the fourth wave serving as the final correction period before starting the last leg of an asset cycle.
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.