A pair of crypto analysts say one Ethereum (ETH) challenger is beginning to show signs of strength, despite a persistent bearish trend across the digital asset market.
Pseudonym analyst Pentoshi told 576,200 Twitter followers that the smart contract platform Solana (SOL) looks bullish because it’s floating despite a major fix last week.
“Through all this, SOL’s incredible strength. If the market calms down, $ 34, and in some cases $ 40, would be fine. I was able to completely survive last week’s genocide. I’m small. I grabbed the bag. “
At the time of writing, Solana was changing hands at $ 32, up more than 21% from the 2022 low of $ 26.43.
Fellow crypto strategist Cantering Clark is also bullish on Solana.trader To tell He placed a long position in Solana, hoping that SOL would remove the diagonal resistance.
“Currently there are some very interesting purchases at SOL. The strength against all other pairs is very noticeable. If any breakout of this decline occurs, I would be like white rice to this. increase.”
On the other hand, crypto analyst Capo does not share the bullish feelings of Pentosi and Cantering Clark. Pseudonym traders who called Bitcoin’s collapse less than $ 30,000 say they expect Solana to lose more than 40% of its value from its current price.
“$ 18 to $ 20 seems to be a good level.”
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Featured images: Shutterstock / Tithi Luadthong / Natalia Siiatovskaia