dailyhodl.com
A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on one memecoin built on the Solana (SOL) blockchain while revealing his forecast for Ethereum ($ETH) going forward.
The analyst pseudonymously known as Flow Horse tells his 216,400 followers on the social media platform X that dogwifhat ($WIF), whose logo features a dog wearing a hat, appears to be undergoing consolidation on the daily chart.
According to the pseudonymous analyst, $WIF could then turn bullish after the consolidation phase.
“It looks like $WIF isn’t ready to take off the hat.”
$WIF is trading at $2.97 at time of writing, down by around 38% from the all-time high reached in March.
Turning to $ETH, Flow Horse says that if the U.S. Securities and Exchange Commission (SEC) approves a spot Ethereum exchange-traded fund (ETF) for the second-largest crypto asset by market cap months after Bitcoin’s ($BTC), the impact could result in a weeks-long uptrend for $ETH.
“The Ethereum ETF trade is better than Bitcoin for too many reasons to list, but simply put:
The market is still caught off guard by the pivot and you can guarantee there is still some pocket of doubt and disbelief that won’t enter until we get a headline.
Short-term pop and correction followed by a strong trend up over weeks.
**Also, it is easier to move $ETH than it is $BTC**”
Ethereum is trading at $3,864 at time of writing, up by around 29% over the past seven days.
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