Analyst Says ‘Teleport’ Rally for Ethereum Incoming, Updates Outlook on Solana, FLOKI and One Additional Altcoin
A crypto strategist known for accurately calling the 2021 digital asset cycle top believes Ethereum ( ETH ) is on the verge of an explosive move to the upside.
The analyst pseudonymously known as Pentoshi tells his 884,200 followers on X that ETH may increase more than 15% its current value in the coming weeks after a period of price consolidation.
“ETH maybe a little chopsolidation but then we see it teleport above $5,000 in the next couple weeks in my opinion. A little patience goes a long ways here.”
Source: Pentoshi/X
ETH is trading for $4,314 at time of writing, down 2.9% in the last 24 hours.
Next up, he says that Solana ( SOL ) may soon print new all-time highs if the ETH rival breaks through resistance in the mid-$200 range.
“SOL very similar to ETH in that sense.”
Source: Pentoshi/X
SOL is trading for $219 at time of writing, down 1% on the day.
Looking at Floki ( FLOKI ), the analyst says the memecoin may be printing a bullish pattern after a correction.
“Close above the bottom line on a three-day through one-week candle and could have a 2x on the table once it accepts into the previous range, has been making higher highs and lows so that’s how I’d look to play it.”
Source: Pentoshi/X
Looking at the trader’s chart, he suggests that FLOKI may soon reclaim $0.0002009 as support.
FLOKI is trading for $0.00009177 at time of writing, down 7.7% in the last 24 hours.
Lastly, Pentoshi says the stablecoin-focused blockchain Plasma ( XPL ) may be at the beginning of a massive bullish reversal after forming a market bottom. Looking at his chart, the analyst suggests XPL may reclaim $1.27 as support.
“XPL update: moon that.”
Source: Pentoshi/X
Plasma is trading for $0.74 at time of writing, down 14.4% on the day.
Featured Image: Shutterstock/Salamahin/Mia Stendal
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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