A widely followed cryptocurrency trader is leaning bullish on a large-cap Ethereum (ETH) challenger, believing that the altcoin is still in an uptrend.
The trader pseudonymously known as Altcoin Sherpa tells his 238,400 followers on the social media platform X that Solana (SOL) is primed to go “much higher” over the coming weeks and months.
The pseudonymous analyst, however, says that Solana will only rally if Bitcoin (BTC) remains “stable”. According to analysts, any solid pullback by Solana should offer an attractive entry opportunity.
Looking at the trader’s chart, he seems to suggest that SOL will meet resistances at $228, $243 and $264. Solana is trading at $198 at time of writing.
Next up is the native token of the decentralized open financial system Hyperliquid (HYPE). The pseudonymous analyst says that HYPE could rally by about 129% from the current level before the end of the current cycle.
“Wouldn’t exactly call this bullish on lower time frames but still think this one goes to $50+ before cycle end.”
HYPE is trading at $21.85 at time of writing.
On the broader crypto market, the pseudonymous analyst thinks digital assets have more room for upside bursts this cycle.
“We haven’t experienced anywhere close to euphoria for it to be a top in my opinion.
You can maybe make an argument that there’s not going to be the same type of euphoria from previous cycles due to dilution, concentrated pumps, and more. But I still don’t think ‘it’s over.’”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here
