A widely followed crypto strategist predicts strong rallies for two Ethereum (ETH) rivals and an additional altcoin.
The pseudonymous analyst known as Pentoshi tells his 590,600 Twitter followers that smart contract platform Solana (SOL) is one resistance away from igniting a nearly 40% rally from today’s prices.
“Think SOL has fresh air over here. Close above $45 and [it] probably turbo pumps.”
At the time of writing, SOL is changing hands for $42.82.
Next up is smart contract platform Cardano (ADA). According to Pentoshi, a close above resistance around $0.55 opens up the possibility of a 25% rally for Cardano.
“ADA closes today here and next resistance on the table.”
At the time of writing, Cardano is trading at $0.52, down over 1% on the day.
Another altcoin on the trader’s watchlist is blockchain scaling solution Polygon (MATIC). Pentoshi says a break of $0.98 resistance could trigger a rally to around $1.30 for MATIC.
“It is in opposition. However, a clean breakout leads to the sitting penguin.”
MATIC is valued at $0.94 at the time of writing.
Looking at the leading smart contract platform Ethereum, Pentoshi warns traders that ETH could correct significantly as it struggles to take out resistance at $1,700.
“Imagine if cattle are distributed on and off in relation to ETH.
We plant the seeds of doubt. Like the other tweets, this would be poetic, if true of course. Cattle are well fed. What if it’s time to harvest the sweet, sweet meat at the butcher’s?”
At the time of writing, ETH is valued at $1,692.
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Featured image: Shutterstock/NextMarsMedia