A prominent crypto strategist believes strong recoveries are on the horizon for Ethereum (ETH) and its rival Solana (SOL).
Focusing on the leading smart contract platform, the pseudonymous analyst Kaleo informs his 647,300 followers on the X social media platform that his previous bearish outlook for Ethereum is now off the table.
The trader shares a chart that indicates ETH has already established a local bottom and is positioned for significant gains.
“The yellow line is cursed.
The white line in this thread has been honored and will continue to be honored.
Run it back.”
According to the trader’s chart, he seems to anticipate that Ethereum will rise to $4,400. As of now, ETH is priced at $2,383.
Regarding Solana, Kaleo presents a chart implying that SOL is on track for a new all-time high after securing support at $120.
“The white lines have always been the established path. Run it back.”
From the trader’s chart, it appears he’s predicting that SOL could reach a new peak around $400. Currently, SOL is valued at $135.63.
Kaleo also mentions that Q4 will be incredibly favorable for crypto following an extended correction period over the past six months.
“Uptober is going to be vibrant. Upvember will surpass that.”
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