A intently adopted crypto strategist is saying that Ethereum rival Solana (SOL) and one other altcoin have already carved bottoms.
Crypto analyst Smart Contracter tells his 197,800 Twitter followers that he expects sensible contract platform Solana to renew its uptrend after its sharp correction from the all-time excessive of $259.96.
“SOL attempting laborious to make a backside right here for my part, with a pleasant clear three-wave transfer down from the highs on day by day…
Happy to hop again on this after 43% dip peak to trough with an all-time excessive expectation.”
Smart Contracter is utilizing the Elliott Wave concept, a technical evaluation method that predicts future price motion by following the psychology of market members that are inclined to manifest in waves. According to the analyst’s chart, SOL has accomplished its wave-two corrective part and is now poised to ignite a powerful wave-three rally.
The crypto strategist can be Solana in its Bitcoin pair (SOL/BTC). According to Smart Contracter, SOL/BTC is gearing as much as launch the fifth and last wave of its uptrend.
“SOL/BTC still looking like high timeframe reaccumulation.”
Another coin on the dealer’s radar is FTT, the utility token of crypto derivatives alternate FTX. Smart Contracter says that the hourly chart has confirmed the macro backside outlook for the crypto alternate token.
“Haven’t seen anybody serious about FTT in a very long time, nearly as if it’s been forgotten.
A 60% dip will do this, however not for lengthy.”
Currently, FTT is buying and selling at $41.95, up 3.25% within the final 24 hours and over 16% from its seven-day low of $36.01.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl should not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any loses you could incur are your accountability. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please be aware that The Daily Hodl participates in internet affiliate marketing.
Featured Image: Shutterstock/NextMarsMedia/Tun_Thanakorn
