HomeAltcoinTrader Who Nailed 2018 Bitcoin Bottom Issues Alert To Solana Holders, Says...

Trader Who Nailed 2018 Bitcoin Bottom Issues Alert To Solana Holders, Says SOL Flashes Clearly With Bearish Signals


The crypto analyst who correctly rated the Bitcoin (BTC) bear market bottom in 2018 says that Solana (SOL) could be preparing for a significant pullback.

Pseudonymous Smart Contracter Analyst He says his 217,900 Twitter followers that Solana’s strong start to the year is likely over.

“Over 112% moves from the lows in SOL in a clear V reversal, five wave impulsive move. One of the clearest I can see across the board, actually.

In the next few weeks, I anticipate ABC correcting that whole streak, probably 25-35%, but it will probably be a dip to buy.”

Font: Smart Contractor/Twitter

Smart Contracter uses Elliott Wave Theory, a technical analysis approach that attempts to predict future price action by following the crowd psychology that tends to manifest in waves. According to the theory, a bullish asset tends to correct (ABC wave) after going through a five-wave rally.

Looking at the Smart Contracter chart, it seems to be predicting a move below $12 for SOL at the 0.618 Fibonacci level.

Closely watched economist Alex Krüger also believes that SOL’s epic price increases in recent weeks are probably over. According to Krüger, the shorts that have fueled the SOL rally have already been deleted.

“Bears wiped out. SOL funding markets are back in balance. I think he still has some room to go, but the top performance phase is mostly behind him.”

Font: Alex Kruger/Twitter

At time of writing, Solana is changing hands for $16.31, up more than 1% on the day.

Don’t miss a thing: sign up to receive crypto 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.

Image generated: halfway


Heath Tarbert joins Circle as General Counsel and Director of Corporate Affairs

In an exciting development for the global fintech industry, Circle Internet Financial has appointed Heath Tarbert as its new Chief Legal Officer and Head of...

Here is the bullish case for Ethereum Rival Solana (SOL), according to InvestAnswers

A widely followed analyst is giving a bullish outlook on the blockchain development of Ethereum (ETH) competitor Solana (SOL). In a new interview with Paul Barron,...

Rich Dad Poor Dad Author Says Biggest Real Estate Crash in History Is Coming, Calls BTC and Precious Metals the Answer

Rich Dad Poor Dad author Robert Kiyosaki once again predicts that the real estate sector will collapse and cause a severe global financial crisis. Former best-selling...

Binance Pay and Credencial Payments join forces to enable real-time crypto payments in Latin America

In a strategic alliance that aims to revolutionize the digital payments landscape, Binance Pay, the digital payments platform of the world's largest cryptocurrency exchange, Binance,...

Most Popular