Ethereum and Solana Poised to Continue Rally, Top Crypto Analyst Predicts – Here Are His Goals
A closely watched crypto strategist is reacting to the recent market-wide rally, updating his predictions for a trio of digital assets.
Pseudonym cryptanalyst DonAlt updates his 416,400 Twitter followers on Ethereum (ETH) after the leading smart contract platform went vertical on the Bitcoin (BTC) trading pair.
“Full send, as expected. Already pulled back 40% of the bear market (on a relative basis) and not looking weak yet either.
I don’t really see any good reason why it should get anything more than a temporary rejection here. I will remain bullish.”
The map guru too says that while he is already sitting on a 50% paper profit after ETH’s recent rise above $1000, he is looking at a push above $1800 to perhaps as high as the $2200 to $2600 zone.
“I wanted a $1000+ near ETH, I got one. Up 50% on this position too, still not willing to sell.
$1,800 is an interesting area on the low time frames, but given the merger hype has just started, I’m probably going to hold until my target is hit or I’m void.”
DonAlt concludes his ETH analysis by saying that he will goal about $2200 to start taking profits if ETH can end the month of July on a solid footing.
“Monthly support holds so far. I bought around $1000 and if we close this month above, I’ll look for a bearish retest of ~$2200 to TP in.
(As long as lower timeframes allow, views are obviously subject to change depending on market conditions).
After a week of steady price movements to the upside, Ethereum is trading at $1,538 at the time of writing.
Regarding the Solana (SOL) blockchain protocol, the strategist says he has ridden the altcoin’s recent rally to around 50% gains, but would rather keep an eye on an $80 exit point than take profits now.
“Up ~50% on my position and really feel no rush to sell.
It’s on the range here, the simple obvious trade is done, but I’m willing to stick my neck out and hang on for a while longer.
If nothing drastic changes, I’m targeting $80.”
Solana is coming off an impressive week that saw it lurch from $33 to above $40, and is currently trading sideways with a current price of $44.71.
When it comes to the best digital asset Bitcoin, the cryptanalyst tries it create a viral meme based on the market-wide fall caused in part by the collapse of crypto hedge fund Three Arrows Capital (3AC) that began in mid-June.
“How… isn’t this a huge meme yet?
Figure it out.”
DonAlt then follows up one previously Bitcoin price tweet saying “$22,000 is where dreams are made” on the way back to $28,000. He now highlights BTC’s third attempt to break and maintain that level for the last month.
“Exciting times.”
Bitcoin has risen nearly 3% over the past 24 hours, changing hands at $23,300 at the time of writing.
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