2021-10-25 10:00:44

Analyst Predicts Imminent Record High for Ethereum, Says One Red-Hot Altcoin Looks ‘Absolutely Insane’

A popular crypto strategist and trader predicts Ethereum will print a new all-time high in the short term and that one explosive altcoin will likely continue its bullish trend.

The pseudonymous crypto analyst Kaleo tells his 411,000 Twitter followers that leading smart contract platform Ethereum (ETH) is gearing up to take out its last line of resistance in an effort to record a fresh all-time high.

 

“ETH/Ethereum. $5,000+ sooner than you think.”

Source: Kaleo/Twitter

Looking at Ethereum against Bitcoin (ETH/BTC), Kaleo says the pair looks bullish in spite of Bitcoin’s (BTC) resilience.

“Not going to lie, man, alts are responding way better than I expected to Bitcoin>$60,000. Still up in the air for what’ll happen when it’s back in price discovery, but for now – this ETH/BTC chart looks solid.”

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Source: Kaleo/Twitter

As for smart contract platform Solana (SOL), the crypto analyst is expecting the red-hot altcoin to continue its rally above $300 should it breach its immediate resistance around $200.

“The theme of this bull run has been ‘Don’t fade Sam.’ Really doesn’t look like that’s going to change any time soon.”

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Source: Kaleo/Twitter

Kaleo is referring to Sam Bankman-Fried, the CEO of crypto derivatives exchange FTX, who tweeted in January that he was willing to buy all of a crypto trader’s positions in Solana back when SOL was trading around $3.

The crypto strategist is also keeping a close watch on Solana against Bitcoin (SOL/BTC), which he says is flashing signs of strength after bouncing from its diagonal support and taking out its downtrend resistance on the lower timeframe.

“The SOL/BTC chart is absolutely insane.”

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Source: Kaleo/Twitter

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Featured Image: Shutterstock/Tithi Luadthong

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