A intently adopted crypto strategist is saying that Ethereum rival Solana (SOL) and one other altcoin have already carved bottoms.
Crypto analyst Good Contracter tells his 197,800 Twitter followers that he expects good contract platform Solana to renew its uptrend after its sharp correction from the all-time excessive of $259.96.
“SOL making an attempt exhausting to make a backside right here in my view, with a pleasant clear three-wave transfer down from the highs on each day…
Comfortable to hop again on this after 43% dip peak to trough with an all-time excessive expectation.”
Good Contracter is utilizing the Elliott Wave principle, a technical evaluation strategy that predicts future value motion by following the psychology of market contributors that are inclined to manifest in waves. In keeping with the analyst’s chart, SOL has accomplished its wave-two corrective part and is now poised to ignite a robust wave-three rally.
The crypto strategist can also be Solana in its Bitcoin pair (SOL/BTC). In keeping with Good Contracter, SOL/BTC is gearing as much as launch the fifth and last wave of its uptrend.
“SOL/BTC nonetheless wanting like excessive timeframe reaccumulation.”
One other coin on the dealer’s radar is FTT, the utility token of crypto derivatives trade FTX. Good Contracter says that the hourly chart has confirmed the macro backside outlook for the crypto trade token.
“Haven’t seen anybody fascinated with FTT in a very long time, nearly as if it’s been forgotten.
A 60% dip will try this, however not for lengthy.”
Presently, FTT is buying and selling at $41.95, up 3.25% within the final 24 hours and over 16% from its seven-day low of $36.01.
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