A closely followed crypto analyst is expressing bullish sentiment on a top-10 altcoin while updating his outlook on Bitcoin (BTC).
Starting with smart contract platform Solana (SOL), pseudonymous crypto strategist Altcoin Sherpa tells his 209,900 followers on the social media platform X that the fifth-largest crypto asset by market cap could appreciate by roughly between 250% and 600% this cycle.
“SOL: This will cleanly break all time highs this cycle, the only question is how high. $500 is probable, something obscene like $1,000 isn’t out of the question in my opinion.
Still one of my bigger bags. $170 next level up.”
According to the analyst’s chart, it appears that after climbing above $140, the next major resistance levels for the Ethereum (ETH) competitor are around $174 and around $202.
Solana, which hit an all-time high of around $260 in November of 2021, is trading for $142 at time of writing.
Moving on to the flagship digital asset, Altcoin Sherpa says it will experience immense volatility in the short term but will eventually reach a six-figure price tag this cycle.
Based on the analyst’s chart, it appears that Bitcoin could surge to just below $70,000 before plunging to around $62,000 in the near future.
“Bitcoin is going to go to $100,000 this cycle and these short-term movements are a blip on the radar. Don’t lose your stack when we’re so close to the finish line.”
Bitcoin is trading at $67,478 at time of writing, a fractional increase during the last 24 hours.
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