Top Analyst Pentoshi Predicts Upside For Solana (SOL) And Avalanche (AVAX)
A widely followed crypto analyst, known as Pentoshi, projects incoming rallies for Ethereum (ETH) rivals, Solana (SOL) and Avalanche (AVAX).
Solana (SOL)
The analyst shared with his 556,200 Twitter followers that Solana looks ready for a rally as traders get overly bearish on the smart contract platform while it hovers at a key support level.
“I bought some SOL. Fished for some replies yesterday and general consensus now (compared to this original post is that people will buy at $3-$5). I think green line plays out is high probability. Euphoria at the highs to fear at the lows.”
At time of writing, SOL trades at $44.93, up 1.25% on the daily chart.
Avalanche (AVAX)
Moving on to smart contract platform Avalanche (AVAX), Pentoshi notes that if AVAX manages to stay above its support area at $25, the chance of a rally to his target of $40 increases.
“IF close today inside range low, then I will be in new longs and buying. Offers clearly defined boundaries/invalidation for a trade to be taken for my trade style at high timeframe one-day, three-day and one-week support.”
At time of writing, AVAX trades at $25.92, up 4.2% on the daily chart.
Overall Crypto Market
Looking into the wider digital asset market, Pentoshi points out that there’s a very good chance that crypto bounces soon as sentiment sways from extreme bearishness to extreme bullishness.
“It feels like everyone will go from saying it’s over, dead, zero to calling for alt season beginning and celebrating on the timeline, just to find out it’s mean reversion off high timeframe pivots. Would put this over 50% chance of happening soon.”
