Crypto strategist says Ethereum rival is poised to take off, Bitcoin (BTC) likely bottoming out

A closely watched crypto analyst anticipates a rally in popular rival Ethereum (ETH) while saying that Bitcoin (BTC) may have already printed this cycle’s low.

Analyst under the pseudonym Cantring Clark tell Its 142,300 followers on Twitter confirmed that smart contract platform Solana (SOL) is preparing for a move that could lead to a sharp rise in current prices.

“Just look at the board. SOL seems to be holding up against resistance and pressure to fly… This is daily [chart] It looks good, and we didn’t see as much of a backslash as I expected. floor.”

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Source: Gallup Clark / Twitter

Looking at analysts’ charts, it appears that Solana’s next major resistance is around $75. At the time of writing, SOL is trading in hands for $46.98, which indicates a roughly 60% upside potential for the Ethereum competitor, according to Cantering Clark.

Regarding Bitcoin, the trader is assuming that BTC revisiting the 2017 bull market high of around $20,000 and holding it as support on the weekly time frame might be an appropriate lower signal.

Fans, can bitcoin really be that simple?

Everyone is talking about a pullback that should match the previous ones, but without taking into account that the recent bull market was less severe than the previous ones.

We’re kind of back to the good historical average regardless.

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Source: Gallup Clark / Twitter

Cantering Clark notes that during the 2017 bull run, bitcoin rose more than 11,000% from the bottom. Meanwhile, the 2021 bull market saw Bitcoin gain less than 2,000%.

“Do you have problems with your eyes?”

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Source: Gallup Clark / Twitter

cipher parser too Warn Traders are considering selling Bitcoin due to its relatively poor performance over the past few weeks.

“Bitcoin is very boring and gives the impression of weakness.

“Never bypass a boring market.”

This kind of reminds me of the 2020 structure versus the March lows.

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