Analyst Predicts Strong Performance for Ethereum Competitor in Upcoming Months, Provides Updated Bitcoin and Celestia Forecasts

An established cryptocurrency trader speculates that a competitor to Ethereum (ETH) is positioned for amassing gains in the forthcoming months.

Under the alias of Altcoin Sherpa, the analyst informed his Twitter following of 217,800 people that he maintains a ‘pretty neutral’ stance on Solana (SOL) in the immediate term, while holding a more positive outlook for the currency as 2024 progresses.

“My expectation is that the $120-170 range for SOL will be a strong accumulation zone, and I anticipate it will perform quite well in the latter part of the year. However, I don’t foresee any significant movement until the overall market sentiment gets better.”

At the time of publication, SOL is valued at $140.87, down by more than 1% over the past day.

Additionally, Altcoin Sherpa has shared his thoughts regarding Bitcoin (BTC).

“I am expecting a few days of bullish price action followed by uncertainty. Next week is pivotal for determining if we revert to previous trading ranges. I’m momentarily bullish but unsure about the mid-term.”

Bitcoin is currently being traded at $57,519, observing a decrease of more than 1% in the last 24 hours.

The crypto strategist also mentions his plans to track the Celestia blockchain’s native token (TIA) for possible uptrends.

“Modularity is trending again, and I’m looking to purchase TIA at $6.00 or slightly lower. Time will tell if/when that opportunity arises.”

Bull flags are generally considered to be optimistic chart patterns that indicate an initial upward trend, a phase of consolidation, and then a probability of continuing the uptrend.

Currently, TIA is priced at $6.82, with a decrease of over 3.5% in the past day.

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