December 10, 2023

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Cryptocurrency Strategist Says Ethereum’s Rival Is Preparing for a Takeoff, Bitcoin (BTC) Possibly Bottoming in

Cryptocurrency Strategist Says Ethereum's Rival Is Preparing for a Takeoff, Bitcoin (BTC) Possibly Bottoming in

A closely followed crypto analyst predicts a rise in the price of Ethereum (ETH(The challenger while saying that Bitcoin)BTC) may have already printed the low level for this course.

Analyst under the pseudonym Cantring Clark Tells His 142,300 followers on Twitter who are smart contract platform Solana (Sol) is preparing for a move that may lead to a strong rally from the current prices.

“Just look at the graph. It looks like SOL is merging against resistance and pressing to fly… This is daily [chart] It looks good, and we haven’t experienced nearly as much bounce as I would expect. Sol. “

source: Cantring Clark / Twitter

Looking at analysts’ charts, it appears that Solana’s next major resistance is around $75. At the time of writing, SOL was swapping hands for $46.98, which indicates a roughly 60% upside potential for the Ethereum competitor, according to Cantering Clark.

As for Bitcoin, the trader assumes that BTC revisiting the 2017 bullish market high around $20,000 and holding it as support on the weekly time frame could be a suitable bottoming signal.

Fans, can bitcoin really be that simple?

Everyone talks about a pullback that should match the previous pullback but ignore the fact that the last bull market was less severe than prices.

We’re kind of back to a good historical medium regardless. “

source: Cantring Clark / Twitter

Cantering Clark notes that during the 2017 bull run, bitcoin rose more than 11,000% from the bottom. Meanwhile, the 2021 bull market saw Bitcoin gain less than 2,000%.

“Eyes having problems?”

source: Cantring Clark / Twitter

cipher parser too Warn Traders planning to short sell bitcoin due to its relatively poor performance over the past weeks.

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“Bitcoin is very boring and gives the impression of weakness.

“Don’t short a boring market.”

It kind of reminds me of the 2020 structure away from the March lows.”

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