A popular crypto trader is predicting that Solana (SOL) and another altcoin will be top performers in the next bull cycle for one key reason.
Pseudonymous analyst Bluntz tells his 224,800 followers on the social media platform X that the recent rallies by SOL and Chainlink (LINK) indicate the two alts will outperform other cryptos based on history.
“So it seems of all the ‘majors,’ SOL and LINK are the two standout outperformers right now that I can see.
In my experience, the first runners usually continue to outperform all through the bull market.
Naturally, people feel they missed the boat and want to chase other coins instead in hopes they are lagging. I’ve also done this myself from time to time, but it’s worth remembering that there usually isn’t ‘the next LINK’ or ‘the next SOL.’
The next LINK and SOL are going to keep being LINK and SOL IMO (in my opinion).”
The trader also weighs in on Ethereum (ETH) against Bitcoin (BTC) and predicts ETH/BTC may be at the start of an uptrend based on several indicators, including an engulfing candle.
Traders watch for a bullish engulfing candle since it may suggest an asset’s downtrend is about to undergo a reversal.
“Not only did ETH manage to close the weekly as an engulfing [candle], but also a confirmed weekly bull divergence.
Couple that with the first test of the weekly 200 MA (moving average) on ETH/BTC and I think it’s setting up for quite a nice move up. A very welcome change after months of chop which feels like it might finally have come to an end.”
A bullish ETH/BTC chart suggests that Ethereum will likely outperform Bitcoin.
ETH/BTC is trading for 0.0511 BTC ($1,753) at time of writing.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxGenerated Image: DALLE-3