Crypto Analyst Says Ethereum Competitor Solana Primed To Surge by at Least 70% – Here’s the Timeline

A popular crypto analyst is predicting that one Ethereum (ETH) competitor will soar to three figures in 2024.

Pseudonymous trader Altcoin Sherpa tells his 198,500 followers on the social media platform X that Solana (SOL) will likely increase by at least 72% from its current value next year.

“SOL: hoping for a bit lower to be honest. Sub $50 would be an excellent entry but this is going to go to three digits next year.”

Using Fibonacci retracement levels, the trader says Solana could dip to $48.79 or $42.80 before the massive surge.

Solana is trading for $57.47 at time of writing, up 6% in the last 24 hours.

Next, he says that decentralized oracle provider Chainlink (LINK) could dip down to Fibonacci levels of $11.15 or $12.

“LINK: I still want $11.15 and $12. Waiting patiently. Moves today are nice but not any sort of big MS (market structure) shift yet.”

Chainlink is trading for $14.29 at time of writing, up 1.3% in the last 24 hours.

Next up, the trader says the native asset of the non-fungible token (NFT) marketplace Blur (BLUR) could soon challenge higher resistance levels.

“BLUR: zoom out, I think $0.60 and $0.75 are possibilities on this current run. Incredible strength.”

BLUR is trading for $0.50 at time of writing, up 3.5% in the last 24 hours.

Lastly, the trader predicts a generally sideways trading environment for the broader crypto market, at least for the time being.

“BTC: nothing has changed. Nice moves today but don’t think that we’ve seen a big market structure shift yet.

Nice moves for some alts but still expecting a lot of chop for the majority.”

He also says that Bitcoin (BTC) will likely break out soon and outperform altcoins.

“BTC: price action pretty boring. I still don’t see this as a great trading environment for most. Expecting more chop followed by a decent-sized move. I still expect alts to underperform Bitcoin in this next stretch though.”

Bitcoin is trading for $37,109 at time of writing, up 1.8% in the past 24 hours.

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