Smart Contracter Looks Into SOL And ETH, Predicts Big Rallies For Both
A pseudonymous crypto trader and analyst, known as Smart Contracter looks into the price action of two leading smart contract platforms Solana (SOL) and Ethereum (ETH).
Solana (SOL) Soon To Test ATH
The crypto market analyst shared with his 174K followers on Twitter that Solana (SOL) price is ready to test new all-time high after a period of accumulation.
“Sol ATH [all-time high] soon anon. This re accumulation won’t last forever.”
At the time of writing, SOL is trading at $159, with 3.5% gains on a weekly chart.
Smart Contracter predicted earlier this week that SOL could more than double its value against the US dollar (SOL/USD) and Bitcoin (SOL/BTC) after ending wave four of its five-wave uptrend.
“[Wave] four low very close to being put in on SOL/BTC in my opinion. The same low on the USD pair already put in and just in some HTF [high timeframe] re-accumulation. The next move higher will be >100% [in my opinion].”
w4 low very close to being put in on sol/btc imo, the same low on the usd pair already put in and just in some HTF re-accumulation.
Smart Contract bases his analysis on the Elliott Wave theory, 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.
Ethereum (ETH) ‘Still Has Some Juice In The Tank’
Looking into ETH, Smart Contracter predicts upward trend to continue for the leading smart contract platform, as it broke from resistance at $3,500 level.
“Solid move. I think there’s still some juice in the tank.”
At the time of writing, Ethereum is trading at $3,847, with 9.5% gains on a weekly chart.
According to the analyst, Ethereum in its Bitcoin pair (ETH/BTC) is currently getting for a move to 0.12 BTC ($7,355), representing an upside potential of almost 100% from its current value of 0.0631 BTC.
“There [are] people out there that actually think ETH/BTC looks bearish.”
