A closely watched crypto analyst expresses bullish sentiment on a top-10 altcoin while updating his view on Bitcoin (BTC).
Starting with the smart contract platform Solana (SOL), the pseudonymous crypto strategist Altcoin Sherpa tells its 209,900 followers on social media platform
“SOL: This will clearly break all the time highs of this cycle, the only question is how high. $500 is likely, something obscene like $1,000 is not out of the question in my opinion.
Still one of my larger bags. $170, the next level up.”
According to the analyst’s chart, it appears that after rising above $140, the next major resistance levels for the Ethereum (ETH) competitor are around $174 and around $202.
Solana, which hit an all-time high of around $260 in November 2021, is trading at $142 at the time of writing.
We continue with the flagship digital asset, Altcoin Sherpa say it will experience tremendous volatility in the short term, but will ultimately reach a six-figure price tag this cycle.
Based on the analyst’s chart, it appears that Bitcoin could rise to just under $70,000 before falling to around $62,000 in the near future.
“Bitcoin is heading to $100,000 this cycle and these short-term moves are just a blip on the radar. Don’t lose your stack when we are so close to the finish.”
Bitcoin is trading at $67,478 at the time of writing, up fractionally over the past 24 hours.
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Generated image: DALLE3