A closely watched crypto analyst believes rallies are in store for two top smart contract platforms, including Ethereum (ETH).
Pseudonymous analyst Loma tells his 301,200 followers on social media platform X that he thinks Ethereum will likely continue to grow slowly.
The crypto strategist shares a chart that suggests ETH will eventually return to an all-time high of around $4,871.
“Can steadily just make stops below that $3,200 area. The price closes below $3,200 on any meaningful time frame and you may be able to start calling tops.
Until then, it’s a matter of patience. Slow is smooth; smooth is fast.”
At the time of writing, ETH is trading at $3,963, down about 1.33% in the last 24 hours.
The analyst is also keeping an eye on ETH rival Solana (SOL). Loma says he is optimistic about Solana and that dips are opportunities to accumulate SOL.
“Any consolidation that forms around $140 (and perhaps the mid-$130s) on lower terms is good for compounding in my opinion.
$200, otherwise the market is wrong.”
At the time of writing, SOL is worth $143.52, down more than 2% in the past day.
As for the broader crypto markets, Loma thinks digital assets may go through a period of consolidation before witnessing the next move up.
“A month of sideways cool-down where people chop themselves to smithereens instead of slowly building positions?”
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Generated image: Midjourney