A popular crypto strategist believes that Ethereum (ETH) and its rival Solana (SOL) are in for a sharp rally.
Starting with the main smart contract protocol, pseudonymous analyst Kaleo is telling his 647,300 followers on social media platform X that his bearish scenario for Ethereum is no longer relevant.
The trader shares a chart showing that ETH has already reached a local bottom and is now preparing for a massive rally.
“The yellow line is cursed.
The white line in this thread has been broken and will continue to be broken.
“Bring it back.”
Looking at the trader’s chart, he seems to be predicting Ethereum to rise to $4,400. At the time of writing, ETH is trading at $2,383.
As for Solana, Kaleo shares a chart showing that SOL is now on track to hit a new all-time high after holding support at $120.
“The white lines have always been and will always be the path. Take them back.”
Based on the trader’s chart, he appears to be predicting that SOL will rise to a new all-time high of around $400. At the time of writing, SOL is trading at $135.63.
Kaleo also claims that the fourth quarter will be incredibly bullish for the cryptocurrency after a prolonged period of correction over the past six months.
“Uptober will be bright. Upvember will be even better.”
Generated image: Midjourney
