Venture capitalist Chris Burniske believes that Solana’s Bitcoin (BTC) and Ethereum (ETH) trading pairs will hint at the bull market peak for SOL.
The investor tells his 328,500 followers on the social media platform X that he expects Solana to outperform Bitcoin and Ethereum during the final stages of the crypto bull market.
[adinserter block="1"]“Both SOLETH and SOLBTC continue tracking well, and given how out of favor SOL has felt recently (comments, sentiment, etc), I’d expect this trend to only strengthen in the weeks ahead.”
But Burniske warns that SOL will not maintain its relative market strength forever. According to the investor, SOL will likely print a bull market top after SOL/BTC and SOL/ETH hit a crucial resistance level.
“Watching for both of these to return to the top of the range for this cycle – then we can be done for awhile…”
Looking at Burniske’s chart, the level to watch out for is 0.09 ETH ($396).
As for SOL/BTC, the key level appears to be 0.003 BTC ($329).
In April of this year, Burniske predicted that the crypto bull market had more gas left in the tank, though the fuel was dropping low.
“If I had to guess, we get a couple more quarters of bullish expansion, then everyone can be bearish again – remember to sell some when you’re all bulled up, probably won’t warn again because no one wants to entertain caution when they’re drunk on paper profits.”
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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 losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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