A closely followed crypto analyst is expressing bullish sentiment on a top-10 altcoin while updating his outlook on Bitcoin (BTC).
Starting with smart contract platform Solana (SOL), pseudonymous crypto strategist Altcoin Sherpa tells his 209,900 followers on the social media platform X that the fifth-largest crypto asset by market cap could appreciate by roughly between 250% and 600% this cycle.
“SOL: This will cleanly break all time highs this cycle, the only question is how high. $500 is probable, something obscene like $1,000 isn’t out of the question in my opinion.
Still one of my bigger bags. $170 next level up.”
According to the analyst’s chart, it appears that after climbing 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 of 2021, is trading for $142 at time of writing.
Moving on to the flagship digital asset, Altcoin Sherpa says it will experience immense volatility in the short term but will eventually reach a six-figure price tag this cycle.
Based on the analyst’s chart, it appears that Bitcoin could surge to just below $70,000 before plunging to around $62,000 in the near future.
“Bitcoin is going to go to $100,000 this cycle and these short-term movements are a blip on the radar. Don’t lose your stack when we’re so close to the finish line.”
Bitcoin is trading at $67,478 at time of writing, a fractional increase during the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Trader Says Top Ethereum Rival Could Surge by Over 600%, Forecasts That Bitcoin Is ‘Close to the Finish Line’ appeared first on The Daily Hodl.
