A widely known cryptocurrency strategist believes that Ethereum (ETH) and its competitor Solana (SOL) are set to see a sharp recovery.
Anonymous analyst Kaleo tells his 647,300 followers on social media platform X that his bearish scenario for Ethereum, starting with the top smart contract protocol, is no longer valid.
The trader shares a chart suggesting that ETH has already formed a local bottom and is now ready for a major rally.
“The yellow line is cursed.
The white lines in this thread have been and will continue to be marked with goats.
Please try running it again.”
Looking at the trader’s chart, he seems to be predicting a rally for Ethereum to $4,400. At the time of writing, ETH is trading at $2,383.
For Solana, Kaleo shares a chart suggesting that SOL is heading towards new highs after holding support at $120.
“The white line has always been the way. Go back.”
Based on the trader’s chart, he seems to be predicting that SOL will rally to a new record level around $400. As of this writing, SOL is valued at $135.63.
Kaleo also said that cryptocurrencies will see a huge bull run in Q4 after a prolonged correction period over the past six months.
“Upper will shine. Upper will be better.”
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