One closely watched cryptocurrency analyst believes a rally is in store for the two leading smart contract platforms, including Ethereum (ETH).
Pseudonymous analyst Loma told his 301,200 followers on social media platform X that he thinks Ethereum will continue its slow growth.
The cryptocurrency strategist shares a chart that suggests ETH will eventually recover to its all-time highs around $4,871.
“You can get a steady trail stop in the $3,200 region. The price could close below $3,200 in a meaningful period and perhaps even reach a high.
Until then, it’s just a game of patience. Slow is smooth. “Smooth is faster.”
At the time of writing, ETH is trading at $3,963, down about 1.33% in the last 24 hours.
Analysts are also keeping an eye on ETH’s rival, Solana (SOL). Loma is bullish on Solana and said the decline is an opportunity to accumulate SOL.
“I think any consolidation that forms in the lower $140s (or mid-$130s) is good for compounding.
“It’s $200 or the market is wrong.”
As of this writing, SOL’s value is $143.52, down more than 2% over the past day.
Regarding the broader cryptocurrency market, Loma believes the digital asset may go through a period of consolidation before witnessing its next phase.
“Is there a sideways cooling-off period of a month where people fall apart instead of slowly building their positions?”
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us TwitterFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney