Credible Crypto Predicts That Solana Will Outperform, Updates ETH & BTC
A top crypto analyst and trader, known as Credible Crypto, predicts that Solana (SOL) will reach to new all-time highs faster than Ethereum (ETH) and many altcoins, and outperform the market.
Solana (SOL)
Credible Crypto shared with his 277K followers on Twitter that closely following the performance of smart contract platform and Ethereum competitor Solana.
The analyst sees SOL to rally to all-time high, around $300, by early next year.
“SOL held up extremely well on this drop and has already fully retraced its move down. Will be one of the first to recover and make a new ATH (all-time high) imo (in my opinion).”
$SOL held up extremely well on this drop and has already fully retraced it's move down. Will be one of the first to recover and make a new ATH imo. pic.twitter.com/ECG4X7yRZq
Regarding Ethereum, Credible Crypto believes that the leading smart contract platform is set to rally against its Bitcoin pair (ETH/BTC), ETH held firmly during the crypto market crash over the weekend.
“The fact that ETH/BTC is holding strong on this massive liquidation event is all you need to know to buy the effing dip.”
The fact that ETH/BTC is holding strong on this massive liquidation event is all you need to know to buy the effing dip. $ETHpic.twitter.com/tMcpeSAHzf
Looking into Bitcoin, Credible Crypto says that the latest correction has put BTC in a position to kick off the last leg of its bull cycle.
“And with that, I believe we have likely completed our major wave four… Note our major wave one and wave three both took about six months to complete, putting us at mid-2022 for the top of this bull cycle if our fifth wave does the same.”
And with that I believe we have likely completed our Major Wave 4. Watch the 3 min video on my pinned tweet for more. Note our major Wave 1 and Wave 3 both took about 6 months to complete, putting us at mid 2022 for the top of this bull cycle if our 5th wave does the same. $BTChttps://t.co/tjTuSQR6L2pic.twitter.com/NQaOvzWVOR
Credible Crypto uses Elliott Wave theory in his analysis, which is a form of technical analysis that looks for recurrent long-term price patterns related to persistent changes in investor sentiment and psychology. The theory identifies impulse waves that set up a pattern and corrective waves that oppose the larger trend. Each set of waves is nested within a larger set of waves that adhere to the same impulse or corrective pattern, which is described as a fractal approach to investing.
The first wave is a run up, followed by a correctional second wave that does not rise above Wave 1’s highest point. Wave 3 is typically the bigger and more powerful and rises above the highest point that Wave 1 reached. The Wave 4 being the final corrective period before an asset launches the Wave 5, also known as the last leg of the cycle.
