A closely followed crypto analyst believes that rallies are in store for two top smart contract platforms including Ethereum (ETH).
Pseudonymous analyst Loma tells his 301,200 followers on the social media platform X that he thinks Ethereum will likely continue its slow grind up.
The crypto strategist shares a chart suggesting that ETH will eventually return to all-time high at around $4,871.
“Can steadily just trail stops under that $3,200 area. Price closes below $3,200 on any meaningful timeframe and maybe you can start calling tops.
Until then, it’s just a game of patience. Slow is smooth; smooth is fast.”
At time of writing, ETH is trading for $3,963, down about 1.33% in the last 24 hours.
The analyst is also keeping an eye on ETH rival Solana (SOL). Loma says he’s bullish on Solana and that dips are opportunities to accumulate SOL.
“Any consolidations forming on lower timeframes around $140s (and maybe mid $130s) are good for compounding, in my opinion.
$200 or the market is wrong.”
At time of writing, SOL is worth $143.52, down over 2% in the past day.
As for the broader crypto markets, Loma thinks that digital assets may go through a period of consolidation before witnessing the next leg up.
“One month sideways cool-off period where people chop themselves to smithereens instead of slowly building out positions?”
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Generated Image: Midjourney