Altcoin
They are ready to explode!
Analysts at Blockchain Analytics Platform Glass Knot I believe the leading altcoin Ethereum could skyrocket by triple-digit percentage points. An analyst with a large following says a meme coin that has made huge gains over the past five months looks set to rise even further.
Glassnode Analysts: The Leading Altcoin Is Ready to Explode by 120%!
How did you follow? Kriptokoin.comEthereum has seen strong gains after the SEC gave the green light to list Ethereum ETFs. However, this could just be a trailer. Glassnode analysts Jan Happel and Yann Allemann, who use the pseudonym Negentropic on the social media platform X, say that based on history, Ethereum could hit an all-time high, rising about 120% from current levels. Against this backdrop, the analysts make the following statement:
ETH latest peak at around $7,500? If we look ETH history, let’s look at how we developed a similar pattern for ETH in early 2021. Watch the yellow signals! We believe that the market moves in structures. And this structure gives us a target of around $7,500 as the eventual high for ETH. This is a 161.8% Fib extension of the structure that we see developing right now. This would mirror the Fib extension we have seen in 2021. And it also means that a strong rally in ETH will begin soon…!
Source: Negentropico
Glassnode analysts also say Ethereum it is currently showing relative strength compared to other crypto assets. Speculation about the “imminent” launch of a U.S. spot exchange-traded fund (ETF) could be the catalyst, note Happel and Allemann. Meanwhile, the leading altcoin was trading at $3,441 at the time of writing. ETH is up 1% in the last 24 hours and down 1.5% in the last seven days.
Altcoin Sherpa: WIF is ready to skyrocket!
Elsewhere, a nicknamed analyst Altcoin Sherpa claims that meme coins have recovered well from the recent market crash. According to the analyst, the meme coin dogwifhat (WIF) is poised to skyrocket, even though it has already made big gains this year. As a result, the analyst shares the following assessment:
Some meme coins are making a strong bounce from their local lows. WIF will probably go to at least $2.50, MOG is one of the strongest and PEPPER it’s in a solid bounce area. Let’s see if these areas are sustainable.
In January, Wife it was trading at $0.069. It is currently trading at $2.16, a gain of approximately 3.088%.
Analyst undecided on SOL!
Altcoin Sherpa then looks at Ethereum’s rival Solana (SOL). The analyst says he believes the altcoin will eventually approach the $170 price point. However, he also notes that it could fall to even lower prices. In this context, the analyst said: “SOL: I think it will go up overall. Whether this is a ‘bottom’ or not will be decided; I’m a little skeptical about that. I still think we could see the lows again later.”
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