A prominent crypto strategist believes one of Ethereum’s (ETH) competitors is in a bullish trend after retesting the $120 range last week.
Altcoin Sherpa, an anonymous analyst, told his 217,700 followers on social media platform X that Solana (SOL) appears to have more upside potential after holding the 200-day exponential moving average (EMA) as support.
“SOL: I didn’t trade this… but I think it would be nice if SOL went up more.”
As of this writing, Solana is priced at $140, down 8.5% over the last 24 hours.
The analyst then stated that Bitcoin (BTC) continues to trade sideways around $60,000 without confirming the trend direction, with an upper limit of $73,794 and a lower limit of $56,544 within that range.
“BTC: Still seeing the same type of mixed price action, and in my opinion, there is no clear trend yet. The 200-day EMA is still near the range low, and there is nothing on the lower time frames that suggests a reversal (yet). I think it is best to stay flat for now.”
At the time of writing, Bitcoin is trading at $60,157, down about 3% over the last 24 hours.
Next, the analyst is bearish on Polkadot (DOT), a layer 2 scaling solution.
“The chart itself still looks… terrible for what it’s worth.”
Looking at the chart, this trader predicts that DOT could break above $7 before dropping to the $6.40 level on the daily chart.
At the time of writing, DOT is trading at $6.04, down about 8% over the last 24 hours.
Don’t miss out on the latest news – subscribe to receive email notifications straight to your inbox.
Price check task
Follow us XFacebook and Telegram
Surfing the Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: Midjourney