A closely followed crypto strategist is updating his forecasts for various altcoin projects in response to the recent market-wide rally. Here are the details…
Famous analyst on the rise for the leading altcoin
Analyst DonAlt is updating his 416,400 Twitter followers after the leading altcoin Ethereum went vertical in the Bitcoin (BTC) trading pair. “Exact post, as expected. The bear market has already rebounded (on a relative basis) 40 percent of its movement and is not looking weak yet. I really don’t see a good reason to get anything here other than a temporary rejection. I will stay on the rise,” he said.
The charting guru also says that while ETH is already sitting on paper profits of 50 percent after its recent surge past $1,000, it has seen a rise above $1,800, perhaps to the $2,200 to $2,600 region. The analyst uses the following statements:
“I wanted a close above $1000 in ETH, I got one. In this position, I increased by 50 percent. Still not willing to sell. $1,800 is an interesting area on the lower timeframes but considering the merger excitement is just getting started, I’ll probably hold it until I hit my target or it’s invalidated.”
DonAlt wraps up his analysis of ETH by saying that if ETH can end July strong, it will target around $2,200 to start making profits. After a week of fixed price moves to the upside, Ethereum is trading at $1,538 at the time of writing.
Can Solana rise 50 percent?
Regarding blockchain protocol Solana (SOL), the strategist states that the altcoin has continued its recent rally with a gain of around 50 percent. But right now he says he prefers to consider a $80 exit point rather than taking a profit. He states that he has increased his position by 50 percent and is not in a hurry to sell. The analyst uses the following statements:
Here in a high range, easy trading is done. But I’m willing to hold on for a little while longer. If there is no significant change, I will aim for $80.
Solana is coming out of an impressive week that saw it surge from $33 to over $40 and is currently trading sideways at a going rate of $44.71.
What is the general comment for the market?
When it comes to the top digital asset Bitcoin, the crypto analyst is trying to create a viral post based in part on the market-wide drop caused by the collapse of crypto hedge fund Three Arrows Capital (3AC) from mid-June. DonAlt then follows up on the previous Bitcoin price tweet, saying “$22,000 is where dreams are made” on the way up to $28,000. It now highlights BTC’s third attempt to break and hold this level last month. He conveys that the present is exciting times. Bitcoin is up about 3% in the last 24 hours. At the time of writing, it has changed hands for $23,300.
