dailyhodl.com
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?”
Generated Image: Midjourney