Popular pseudonymous crypto trader known as The Crypto Dog is outlining bullish price targets for Ethereum (ETH), Binance Coin (BNB), and another under-the-radar altcoin that he says is primed for rallying.
In a new tweet, the trader tells his 409,700 followers that an ascending broadening wedge is forming on ETH with a potential to print gains of nearly 20% in the coming months, aligning with the release of a crucial update that seeks to overhaul the smart contract platform’s fee structures.
“I wager this is bullish consolidation on ETH, with a $3,000+ target lined up for an EIP 1559 splash this summer.”
The analyst also sees BNB, the native token on crypto exchange Binance, hitting new highs in the coming weeks, targeting $800 as soon as mid-May.
“I think it’s reasonable BNB revisits and surpasses all-time highs.”
The Crypto Dog also takes note of Polygon (MATIC), saying that the ERC-20 token looks poised for a bullish breakout and a surge of over 75% from its current price of $0.57.
“MATIC is leading this ETH trend. Price will catch up to fundamentals (which have been mooning recently). $1+ is on the table once we clear this range.”
Another coin that the popular trader is keeping a close watch on is smart contract platform Solana (SOL). Although SOL has rocketed 7,105% over the last year, The Crypto Dog says the red-hot coin is still in its early innings.
“We’re unironically still very early to SOL. How many of you have set up a Solana wallet yet? What projects have solidified themselves as household name brands yet? How many farms can you even ape into? It’s all just getting started.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Vectorpocket