As investors scrambled to book profits amid global uncertainty, the prices of Bitcoin and Ethereum plummeted along with major altcoins.
A well-known cryptocurrency analyst has set price targets for a layer-1 blockchain protocol that has soared since breaking out last year. The host of the financial education YouTube channel InvestAnswers tells his 389,000 subscribers that he thinks Solana, ethereum and bitcoin will rally hard in the next six months.
Solana Price to Hit $790 ?
After falling almost 20% in the past seven days, Solana’s (SOL) price is now trading at $143.4 with 4% gains. If the bullish market sentiment continues, the current resistance can be found at $148. On the other hand, if the downtrend resumes, the initial support lies at $128 and $116.
The analyst believes the coin will reach $400 or $450 in value and according to him if the market goes crazy it may reach $790. In the next one or two quarters, he expects a lot of activity.
Ethereum (ETH) Price Massive Upswing
The strategist also discusses how to get started with Ethereum, the top smart contract platform.
He believes that Ethereum at $3,500 is a fantastic price. He further says that on the 29th of December, the price was down to $3,500, and that’s where he thinks Ethereum is a great buy since it’ll potentially triple in value over the next year or two, especially when it deflations with the launch of ETH 2.0. Serenity, or Ethereum 2.0, is a forthcoming upgrade aimed at improving the network’s performance and scalability.
ETH price is currently trading at $3,218.77 showing minor signs of recovery. The altcoin needs to break major resistance at the level of $3616 to continue the uptrend. On the other hand, if the market continues to fall, ETH may plunge to $2876 to $2700 in further trading sessions and consolidate above this level.
Bitcoin Price To be Silent until Q3 ?
The host of InvestAnswers also commented on Bitcoin, claiming that the leading cryptocurrency is ready for a major rally between March and June.
During this bull run, he always said that Bitcoin would hit $98,000, but he didn’t anticipate it would be so delayed.
Between the China ban and the doldrums for 11 weeks, then a horrible September. December [was also] kind of sucky.
Now he is confident that we’ll get to $98,000.When he looks at things like adoption, on-chain metrics, the big money is coming in Q1, the only way is up. And to double is nothing for Bitcoin
“I’m just going to put a line in the sand and that’s what I see: sometime by the end of March or June.”