HomeAltcoinAnalyst Turns Long-Term Bullish On Ethereum Rival, Says Altcoin Can Perform 'Super...

Analyst Turns Long-Term Bullish On Ethereum Rival, Says Altcoin Can Perform ‘Super Well’ In Next Bull Run


A trader who called the end of the 2021 Bitcoin (BTC) bull market believes that an Ethereum (ETH) challenger is a strong candidate to hold for the long term.

Pseudonymous analyst Pentoshi tells his 700,700 Twitter followers that Solana (SOL) looks good on high time-range charts after removing bear market resistance.

In the short term, however, the analyst says that Solana may pull back to retest its previous resistance and turn it into support after rallying more than 150% in less than two months.

“Overall, I find the chart very constructive on higher time frames.

But I wanted to see it maintain these previous range highs. For now, it could be a deviation. If we start to close back in, then I will look at $22.30 next.

Optimistic in cult communities for the next bullfight”.

Fountain: Pentoshi/Twitter

Pentoshi too says that while he doesn’t think SOL will mimic Ethereum’s meteoric rise during the 2021 bull market, he thinks Solana can still generate decent returns for holders in the long run.

“I don’t know if the next bull cycle makes new all-time highs, or if I believe in the ETH fractal.

I lean towards no. You can screenshot this and laugh at me. It doesn’t mean it won’t do very well when people start coming back to the market. He just thinks it’s one of the easier bets.”

At the time of writing, SOL is trading at $24.74.

Looking at the Solana/Bitcoin (SOL/BTC) ratio, the cryptocurrency trader says the pair needs to move above its recent high of 0.00119 BTC ($35.59) to print a bull market structure.

“I don’t think it looks too bad (high time frames). But not a higher high + a higher low yet.”

Fountain: Pentoshi/Twitter

At the time of writing, the SOL/BTC pair is trading at 0.0008252 BTC ($24.68).

Don’t miss a thing – sign up to get email alerts straight to your inbox

Check Price Action

follow us TwitterFacebook and Telegram

Surf The Daily Hodl Mix

Check the latest news headlines


Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

Generated Image: Half the Journey
Featured Image: Shutterstock/Sensvector


Quant Analyst PlanB Says Bitcoin Bull Market Is Underway, Predicts BTC Will Outperform Major Asset Classes

Closely watched quant analyst PlanB says Bitcoin (BTC) is now on track to expand by trillions of dollars to compete with some of the largest...

Bitget Reinforces Its Leadership In Smart Cryptocurrency Trading With Rebranding Initiative

Bitget, a leading crypto derivatives and copy trading platform, announced a rebranding initiative on July 25, 2023, with the aim of reinforcing its position as...

Coinbase vs. SEC: Key dates and details for upcoming court hearings

The legal battle between Coinbase, a major cryptocurrency exchange, and the United States Securities and Exchange Commission (SEC) has reached a significant milestone. Hearing...

Benjamin Cowen Issues Cardano Warning, Says ADA Repeats Hard Times of 2019

Widely followed crypto analyst Benjamin Cowen warns that Ethereum (ETH) rival Cardano (ADA) is repeating a downward pattern from 2019. In a new strategy session, Cowen...

Most Popular