Altcoin season incoming!
Bitcoin has been hovering around $46,000 this week. It’s sideways consolidation is allowing altcoins to take the lead. As the crypto market has started a bullish rally, an altcoin season is predicted to be around.
As many altcoins have been surging in the past week, the market is calling for a alt season. Analyst MoonCarl in a recent tweet chimed in on the same. He says the alt season has already begun.
Popular Analyst, pseudonymously known as Smart Contracter has made a bullish case for 3 altcoins. He took to Twitter to put out his predictions recently.
First up, the analyst mentions Solana(SOL). He says, despite the fact that SOL has recently reached a new all-time high, the altcoin is likely far from finished.
The analyst says, SOL has the potential to rally 130% more from its current price of $65.15. On the basis of Elliot Wave, the token can hit $150 after five waves he further adds.
The second altcoin is FTT, the reserve currency on FTX exchange. On the basis of Elliot Wave, the analyst says, FTT has completed four out of five wave uptrend. He predicts for the token to surge as high as $60.
“Wave four done on FTT in my opinion. Clean ABC, perfect wave equality with the prior wave two. Capitulation volume in the C leg down…New highs from here.”
The analyst states that the meme economy is booming right now. so he’s keeping a watch on the prominent meme tokens Dogecoin(DOGE) and Shiba-Inu (SHIB). Since DOGE has been gaining ground in recent weeks, the trader believes SHIB will follow suit.