A widely followed crypto strategist and trader believes that two of Ethereum’s (ETH) biggest challengers are likely to pull off rallies in the coming weeks.
Pseudoymous analyst Pentoshi tells his 553,200 Twitter followers that he’s keeping a close watch on smart contract platforms Solana (SOL) and Avalanche (AVAX).
According to the crypto analyst, both AVAX and SOL are poised to launch relief rallies after the two ETH rivals respected a key support area.
“I totally understand the macro backdrop. Was probably first to post about it in November. But I also am turbo bullish for the next zero to two weeks. I feel better about this market than I have in six months…
This week has mostly been consolidation off the low wicks. We did get the initial reactions for strong bounces. I still believe from experience reflexivity is a thing. And next week that is realized. I will be bidding AVAX and SOL again.”
At time of writing, SOL is changing hands for $52.48, up almost 4% in the past day.
AVAX is currently trading at $31.65, up nearly 6% in the last 24 hours.
Looking at Bitcoin, Pentoshi believes that BTC will move against overall trader sentiment in the coming weeks and rally to his target at around $36,000.
“Red: How crypto Twitter now perceives how BTC trades in the next month.
Green: How it really trades the next month.”
Bitcoin is currently valued at $30,105, up over 2% in the last day.Check Price Action
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/jamesteohart/PurpleRender