Altcoins
Trader Who Called 2022 Crypto Crash Bullish on Solana (SOL) and GPU-Focused Altcoin
An Analyst Who Accurately Called the 2022 Crypto Collapse Becomes Bullish on Solana (GROUND) and rendering (RNDR).
Analyst pseudonym Capo tell its 90,280 Telegram subscribers than Ethereum (ETH)-rival Solana and RNDR, the graphics processing unit (GPU) rendering blockchain, are likely in an uptrend.
“Added more to the long SOL and RNDR.”
Solana is trading at $133 at the time of writing, down almost 7% in the last 24 hours. Meanwhile, RNDR is trading at $7.17 at the time of writing, down 10% in the last 24 hours.
The analyst also monitors the OTHERS three-day chart, which tracks the total crypto market capitalization excluding the 10 largest digital assets and stablecoins, for signs of a rebound.
“Altcoins: the green zone is support but we should see a rebound soon. If green holds, then we should expect movement towards the red zones (T1 and T2). If green doesn’t hold, then blue. Judging by sentiment and indicators, I think the bullish scenario is more likely.
Source: Capo/Telegram
OTHERS is valued at $219.25 billion at the time of writing, down more than 7% in the last 24 hours.
Then the trader says that ETH against Bitcoin (BTC) could be preparing for an escape.
“ETH/BTC: This looks bullish.”
Source: Capo/Telegram
Looking at his chart, the analyst suggests that ETH/BTC could soon reach 0.065 BTC ($4,196). ETH/BTC is trading at 0.0532 BTC ($3,442) at the time of writing, up slightly over the past 24 hours.
Finally, the analyst claims that the bottom could be reached for the crypto market and predicts that a breakout is coming.
“The market has reached its lowest level again. BTC is holding above $65,000, but alts are suffering much more. It’s like that. Overall, it looks like local background training. Too negative sentiment and financing, filled offers and everything is very oversold. I still expect a strong rebound.
Bitcoin is trading at $64,661 at the time of writing, down 2.5% in the last 24 hours.
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