A popular cryptocurrency trader believes one of Ethereum’s (ETH) competitors will perform well in the coming months.
The pseudonymous analyst Altcoin Sherpa told his 217,800 followers on social media platform X that he is “pretty neutral” on Solana (SOL) in the short term, but is becoming more bullish on the asset as 2024 draws to a close.
“I still believe $120-170 is a good area to accumulate SOL overall and it looks like it could still do quite well in the second half of the year, but I don’t expect this area to move until the overall market environment improves.”
SOL is trading at $140.87 at the time of writing. The fifth-largest cryptocurrency asset by market cap is down more than 1% in the last 24 hours.
Altcoin Sherpa also shared his predictions for Bitcoin (BTC).
“I expect green for a few days, but after that I have no idea. Next week will tell us pretty much if it gets back into the range. Short term is bullish, medium term is no idea.”
At the time of writing, BTC is trading at $57,519 and is down more than 1% over the last 24 hours.
The analyst also said he plans to keep an eye on the underlying asset of modular blockchain network Celestia (TIA) for a potential bull run.
“Modular is back and sexy. I’d like to get a TIA for $6 or a little less. Let’s see when it comes out.”
As the name suggests, a bullish flag is generally considered a technical setup that suggests an uptrend, followed by a brief consolidation before moving higher again.
TIA is trading at $6.82 at the time of writing. The 66th largest cryptocurrency asset by market cap is down more than 3.5% in the last 24 hours.
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