A widely tracked crypto strategist says he’s keeping an eye on smart contract platforms Ethereum (ETH) and Solana (SOL) as he sees the potential for both assets to rally big depending on how they close the month.
Pseudonymous analyst DonAlt tells his 411,100 Twitter followers that he expects Ethereum to launch a nearly 80% rally if it manages to stay above its monthly support level.
“Monthly support holding so far. I bought around $,1000 and if we close this month above there, I’ll be looking for a bearish retest of ~$2,200 to [take profits] into.”
At time of writing, Ethereum is trading for $1,237, up 1.62% in the past day.
DonAlt is also keeping tabs on the month-end performance of Ethereum in its Bitcoin pair (ETH/BTC). According to the analyst, ETH/BTC could erupt if it closes June around 0.058 BTC ($1,242).
“Very interesting spot for ETH here. If it can reclaim the range low, I think it should full send relative to BTC. Close at the resistance wouldn’t be too pretty.”
Looking at Ethereum challenger Solana, DonAlt says SOL can more than double its value as long as it ends the month above a monthly support level.
All trolling aside, this is my SOL longer-term view. Monthly close >$43 and I don’t really see any reason not to bearishly retest ~$100. Until the monthly closes, I’ll be watching the weekly that I posted earlier this week.
At time of writing, SOL is changing hands for $40.98.
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The post Top Analyst Bullish on Ethereum and Its Rival Solana, Says Both ETH and SOL Could Ignite Huge Rallies in Coming Months appeared first on The Daily Hodl.