A popular analyst says he feels bullish on crypto for the end of this year and updates his outlook on Ethereum (ETH) and Solana (SOL).
The pseudonymous trader known as Altcoin Sherpa tells his 222,400 followers on social media platform X that he expects a “full send” phase for the crypto around December or possibly early next year.
“I am personally optimistic for the end of Q4, but until then I honestly have no idea. I still expect some positive results in September/October, then some false results in November. Full shipment is however expected for December/January 2024.”
Looking at Ethereum, the trader does not yet see any immediate reason to turn bullish on ETH.
But he notes that the price recently corrected into a high volume zone, suggesting that ETH is resting on strong support.
“ETH, the only good thing I see on this chart is that price is about to hit a high volume node around the $2,200-$2,400 level. Everything else about ETH is mediocre…”
At the time of writing, Ethereum is trading at $2,438.
Altcoin Sherpa also has its eye on Solana, Ethereum’s biggest rival.
According to the analyst, Solana’s support at $125 appears to be exhausted after several touches.
“GROUND “At $125 this looks like a good area but this support region looks battered; definitely want to save some money for lower levels like $110 or below. If you’re trading, it’s better to be late than early on these types of charts in my opinion. That means it’s better to buy along the way than to take the knife.”
At the time of writing, SOL is trading at $130.25.
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