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Trader Says Ethereum Rival To Perform Well Over Coming Months, Updates Outlook on Bitcoin and Celestia

A popular crypto trader thinks one Ethereum (ETH) rival is primed to perform well over the coming months.

The pseudonymous analyst known as Altcoin Sherpa tells his 217,800 followers on the social media platform X that he’s “pretty neutral” on Solana (SOL) over the short term but more optimistic on the asset as 2024 winds down.

“I still believe $120-170 is a decent region to accumulate SOL overall, and I think this still does pretty well in the second part of the year. Not really expecting this one to move until the overall market environment improves though.” 

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Source: Altcoin Sherpa/X

SOL is trading at $140.87 at time of writing. The 5th-ranked crypto asset by market cap is down more than 1% in the past 24 hours.

Altcoin Sherpa also shares his prediction on Bitcoin (BTC).

“Expecting a few days of green, after that, I have no clue. Next week should be pretty telling if we’re headed back within the range or not. Short-term bullish but mid-term, no clue.”

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Source: Altcoin Sherpa/X

BTC is trading at $57,519 at time of writing and is down more than 1% in the past 24 hours.

The analyst also says he plans to watch the native asset of the modular blockchain network Celestia (TIA) for a potential bull flag.

“Modular is back and sexy. I’m looking to buy TIA at $6.00 or a bit lower. Let’s see if/when it comes.”

Bull flags, as the name suggests, are typically seen as bullish technical setups that imply an upward impulse and then a brief consolidation before another move up.

TIA is trading at $6.82 at time of writing. The 66th-ranked crypto asset by market cap is down more than 3.5% in the past 24 hours.

Generated Image: DALLE3

Source: dailyhodl.com

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