Analyst Says Top Ethereum Competitor To Plunge by Over 36% Before Bouncing Higher, Updates Outlook on Bitcoin
A broadly adopted crypto analyst believes that one Ethereum (ETH) competitor might first right by double digits after which go on a large rally to print new all-time highs (ATH).
Pseudonymous crypto dealer Kaleo tells his 645,400 followers on the social media platform X that Solana (SOL) might decline by greater than 36% of its present worth.
“SOL/Solana: $80s, new all time highs.”
Taking a look at his chart, the dealer suggests SOL might dip to round $80 after which soar previous $263.
Solana is buying and selling for $125 at time of writing, down greater than 5% within the final 24 hours.
Subsequent up, the analyst warns that Bitcoin (BTC) might dip to round $42,500, a decline of greater than 21% of the present worth. He additionally suggests Bitcoin could have a large breakout after the US presidential election on November fifth and soar past $88,000 in early 2025.
“Alright bros, still believe we range through the election and rip after, but starting to look like my IHS (inverse head and shoulders pattern) theory is invalidated at what was initially my target buy price. Why? Equities look like they still have a decent move lower left in them and I don’t see any reason why BTC/alts would hold steady while SPY/QQQ print more red candles. Several majors are at HTF (high timeframe) support levels, so a quick flush from here makes sense.”
Bitcoin is buying and selling for $53,906 at time of writing, down practically 4% within the final 24 hours.
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