Crypto Trader Says Ethereum Rival Primed To Plunge Lower in a Few Weeks, Updates Outlook on Bitcoin and FET
A carefully adopted crypto analyst says that one Ethereum (ETH) competitor could retest decrease ranges inside weeks.
In a new technique session, pseudonymous crypto dealer Altcoin Sherpa tells his 219,200 followers on the social media platform X that Solana (SOL) may decline a minimum of 14% from its present worth.
“SOL: $125-$150 remains a good place to accumulate SOL. I still believe this will be one of the best retail chains this cycle and much of the memecoin action is still there. Strong reaction [August 6th] but I still think you get another shot at $125 or lower in a few weeks personally.”
The chart shared by the analyst exhibits Solana has over the course of a number of months retested the $125 stage as a vary backside.
Solana is buying and selling for $145 at time of writing, down greater than 1% in the final 24 hours.
Subsequent up, the analyst suggests that Bitcoin (BTC) could revisit the $40,000 vary earlier than hovering.
“How I think the next few months will play out: BTC finds a bottom, either here (unlikely) or the $40,000s (more likely). This would mean a few more nasty wicks, a few more liquidations and a bit more pain. Price ranges for one to four months…Late Q4 rolls around and BTC has a god candle.”
Lastly, the analyst warns that the substitute intelligence (AI)-focused altcoin Fetch.ai (FET) is printing a bearish worth sample by setting decrease highs and decrease lows on the day by day chart.
“Many altcoins still look like this; market structure looks the same. No sense in buying any of these right now other than for short term trades; I don’t like holding anything yet. FET trend is bearish.”
FET is buying and selling for $0.81 at time of writing, down greater than 6% in the final 24 hours.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Test Worth Motion
Observe us on X, Facebook and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl will not be funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney
