Crypto strategist predicts big bounces for Bitcoin and an Ethereum rival – here are his targets
The crypto analyst who called the end of the crypto bull market now predicts big jumps for Bitcoin (BTC) and Ethereum (ETH) challenger Solana (SOL).
Popular crypto strategist Pentoshi tells his 612,000 Twitter followers that after almost a year, he is no longer extremely pessimistic about Bitcoin.
“It’s hard to change the bias after being a doomer for 10 months, but I think that can have an impact over the next two months. I’m also a high timeframe bias person. So more focused on larger timeframes. I have reasons for it.”
Source: Pentoshi/Twitter
According to Pentoshi, Bitcoin’s diagonal resistance, which has kept BTC in a downtrend since November of last year, is nearing the end of its lifespan and it now expects a breakout rally towards $26,721.
At the time of writing, Bitcoin is changing hands for $19,054. A move to the Pentoshi target suggests over 40% upside potential for the leading cryptocurrency.
As for the Solana (SOL) smart contract platform, Pentoshi sees the Ethereum competitor rising alongside Bitcoin.
“Filled $32.26 today. Looking for a ride up to $37. Cuts below local lows daily.
There is no FOMC (Federal Open Market Committee) or gains until November. Fed final interest rates at 4.6% (priced in at maximum after increase from 0 to 4.6%). Guess we can squeeze together. Markets are all on high timeframe support, first test of June lows so it’s now or never.”
At the time of writing, Solana is trading at $33.56, down 1.50% over the past 24 hours.
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