Analyst Says Ethereum-Based Altcoin ‘Looks Strong as Hell,’ Outlines Path Forward for Bitcoin and Solana
dailyhodl.com 26 July 2024 12:25, UTC A widely followed crypto analyst and trader believes that one memecoin is heading for the next leg up.
Pseudonymous crypto trader Altcoin Sherpa tells his 216,400 followers on the social media platform X that Pepe’s (PEPE) market fundamentals look strong.
“PEPE: never got a chance to add at $0.00001111, I’m still in this though. Looks strong as hell. Still a big fan of memes overall.”
Pepe is trading for $0.00001128 at time of writing, down 8% in the last 24 hours.
Next up, the analyst says Ethereum (ETH) rival Solana (SOL) has more upside potential due to network activity.
“SOL: go long Solana. Why? Because SOL memes are still taking off and everyone’s denominated in Solana there. Being in the shitcoin trenches really helps understand this stuff much more. Expecting pullback soon but that’d be the dip to buy in my opinion.”
Looking at the analyst’s chart, he suggests that SOL could eventually hit $205.
Solana is trading for $166 at time of writing, down 6.7% in the last 24 hours.
Finally, the analyst says that Bitcoin (BTC) appears to be in a bullish trend but could retest the $63,000 level.
“BTC: price still looks pretty strong to me. If you really want a dip to re-enter, look for $63,000 around the 200 exponential moving average (EMA) on the four hour. For now, everything should just continue in my opinion.”
Bitcoin is trading for $64,596 at time of writing, down nearly 2% in the last 24 hours.
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