Altcoins

Ethereum(ETH), Binance(BNB), Matic & Solana(SOL) Poised to Emerge Out of Shell

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A prominent crypto analyst and trader The Crypto Dog is laying out bullish price expectations for Ethereum (ETH), Binance Coin (BNB), and another under-the-radar altcoin he believes is due for a rally.

The trader tells his 409,700 followers in a new tweet that an ascending broadening wedge is emerging on ETH, with a possible gain of nearly 20% in the coming months, coinciding with the release of a critical update aimed at rebuilding the smart contract platform’s fee structures.

Ethereum

I wager this is bullish consolidation on ETH, with a $3,000+ target lined up for an EIP 1559 splash this summer.”

As for Ethereum after a sharp drop last week, the Ethereum price is hovering near its all-time peak. ETH is currently trading at $2,645, a few points below its all-time high of $2,717. In the last few days, it has risen by more than 30%, bringing its overall market capitalization to more than $304 billion.

Binance

BNB, Binance’s native token, is expected to reach new highs in the coming weeks, with a price goal of $800 as early as mid-May, according to the analyst. He adds that,

I think it’s reasonable BNB revisits and surpasses all-time highs.”

Binance Coin reached $550 on Monday, following a 10% increase in the previous 24 hours. BNB currently has a market capitalization of over $82 billion. At the time of writing Binance was hovering around $553.73.

Polygon (MATIC)

The Crypto Dog also mentions Polygon (MATIC), claiming that the ERC-20 token is on the verge of a bullish breakout and a 75 percent price increase from its current $0.57 price. 

This ETH pattern is being led by MATIC according to him and the Fundamentals will eventually catch up to price (which have been mooning recently). Once we clear this range, $1+ will be on the table.

Solana (SOL)

Another coin that the well-known trader is keeping an eye on is Solana, a smart contract network (SOL). Despite the fact that SOL has increased by 7,105% in the last year, The Crypto Dog believes the coin is still in its infancy.

We’re unironically still very early to SOL. How many of you have set up a Solana wallet yet? What projects have solidified themselves as household name brands yet? How many farms can you even ape into? It’s all just getting started.”

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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