tl;dr
Crypto analyst Altcoin Sherpa predicts Solana (SOL) will not see a 2024-style bull run against Bitcoin (BTC) and is unlikely to outperform BTC on longer timeframes. Bitcoin's market correction may have ended near $103,000, currently trading sideways between $103,127 and $106,826, with a potential br...
Solana (SOL) is unlikely to replicate its significant 2024-style bull run against Bitcoin (BTC) moving forward. Crypto analyst Altcoin Sherpa highlights that SOL may not outperform BTC on longer timeframes, stating, “Other than a few blips here and there, I don’t see SOL outperforming BTC from here on out.” SOL/BTC is currently trading at 0.0013768 BTC ($143), remaining flat on the day.
Bitcoin (BTC) may have found a local bottom around $103,000 and is currently trading sideways within a range of $103,127 to $106,826. Altcoin Sherpa notes that Bitcoin has been moving within this range for about three weeks and suggests that a breakout could be imminent. He advises patience during this period of price stability, cautioning against taking trades amid the market’s chop. At the time of writing, BTC is trading around $104,359, flat on the day.
Ethereum (ETH) is expected to trade sideways for approximately three months before experiencing a potential explosive breakout. This forecast is based on the convergence of several Exponential Moving Averages (EMAs), a technical signal that may indicate an upcoming trend reversal. Altcoin Sherpa notes that ETH’s price compression is characteristic of a “big move coming,” forecasting a pattern similar to its 2024 sideways trading phase. ETH is currently trading at $2,501, stable on the day.
In summary, while Solana’s monumental run against Bitcoin may not repeat, Bitcoin itself shows signs of stabilizing and potentially preparing for a strong move. Ethereum investors may need to exercise patience as technical indicators suggest a significant breakout could be on the horizon after a period of sideways trading.