Ethereum (ETH) challenger Solana is getting ready for another leg up following a multi-month correction, according to crypto trader Pentoshi.
The pseudonymous trader tells his 880,000 followers on X that Solana is putting pressure on bears by repeatedly knocking on the $210 level, while also showing strength in its Ethereum pair (SOL/ETH).
“So far so good.
On the USD pair its starting to squeeze as its making rapid higher lows applying pressure to sellers so that should hopefully pop off soon.
The ETH pair now up close to 10%. This was another solid rotation and still quite early with their dats (digital asset treasuries) similar to eth but not the same scale of course.
We’ve had some pretty solid rotation from btc to eth, and now into SOL.”
Pentoshi says he’s not bothering to try and play the smaller altcoins within the Ethereum and Solana ecosystems, because according to him, the risk-to-reward is way in favor of simply following the flows from the digital asset treasuries (dats) that are allocating to ETH and SOL.
“Not playing the ecosystem coins, same as eth. I didnt play the beta there bc you had billions going into eth. For beta players overall it didnt work out great.
For sol, Im not playing beta either. Just rather own what the dats intend to buy and front run some of those flows.”
At time of writing, ETH is trading at $4,458 while SOL is priced at $205.
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