Crypto analyst Jacob recently shared his thoughts on what to expect from cryptocurrencies. Ethereum, Solanaand chain link token. His analysis shows that these major altcoins could see significant price movements in the near future.
Ethereum holding above $2400 could be a turning point.
On how “significant” the $2400 price level is, Jacob said: figure On the Paul Barron Network ETH could go up to $2500. And if it holds up to more than that, it’s more than that. However, the cryptocurrency analyst suggested that this will not be easy, highlighting the formation of a bearish trend with ETH price heading further down.
Jacob and Paul Barron also noted recent developments that could provide bullish momentum for the ETH price. One of them is: Solana’s recent outageThis means that Solana always “Ethereum Killer.”
Another optimistic story highlighted by analysts is the recent partnership between the two companies. Internet domain service provider Godaddy and Ethereum Name Service (ENS). This move could provide greater visibility into the Ethereum ecosystem and have a positive impact on the price of ETH.
Interestingly, ETH has already broken the $2,400 resistance level and appears to be comfortably maintaining that level, currently trading at $2,450. However, it remains to be seen whether it will eventually rise to $2500 as Jacob predicted, or whether it will fall back below $2400.
ETH price breaks $2,500 resistance | Source: ETHUSD on Tradingview.com
Predictions for Solana and Chainlink
Jacob predicted that SOL could rise further. He noted: Oscillator movement It is expected to be a “good bullish build-up” for the crypto token. The cryptocurrency analyst also noted how impressive the SOL token is. You can still record profits Despite recent power outage Solana Network meets.
Paul Barron also explained and highlighted how Solana has recently seen a lot of activity that could cause network congestion and outages. But he believes congestion is a good thing. I have a lot of projects Users who are actively using the network.
Meanwhile, Jacob also made a sound. Very bullish on LINK, said the crypto token could “very easily” reach $20. However, he cautioned investors to be cautious about going all-in on LINK at current price levels as he believes there could be a retracement before a further upward move.
That retracement already appears to be in motion. data LINK has fallen more than 3% in the past 24 hours, according to information from CoinMarketCap.
Featured image from CryptoRank, chart from Tradingview.com