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“One Ethereum rival gears up for launch, with Bitcoin (BTC) bottom likely in – Crypto News News

A well-regarded crypto analyst says a surge for a popular one Ethereum (ETH) ahead while at the same time saying that Bitcoin (BTC) may already have bottomed out this cycle.
Pseudonymous analyst Cantering Clark tells his 142,300 Twitter followers that the smart contract platform Solana (SOL) prepared for a move that could trigger a strong rally from current prices.

“Just look at the chart. SOL looks like it’s up against the Resistance consolidated and compressed to fly… This day [chart] looks good, and we didn’t see nearly as much mean reversal as I would expect. SOL.”
“One Ethereum rival gears up for launch, with Bitcoin (BTC) bottom likely in – Crypto News News, Crypto Trading NewsSource: Cantering Clark/Twitter
Looking at the analyst’s chart shows that the next key resistance for Solana is $75. At the time of writing, SOL is trading for $46.98, indicating nearly 60% upside potential for the stock. Ethereum competitors, according to Cantering Clark.

As for Bitcoin, the trader believes that BTC can be bull market-Retrieved 2017 high at $20,000 and holding this as support on the weekly timeframe which could be a suitable bottom signal.

“Guys, is it possible Bitcoin really was that simple?

Everyone talks about a drawdown that should be consistent with previous drawdowns, but ignores the fact that the recent bull market has been less intense than previous ones.

We somehow got back to a good historical mean though.”
“One Ethereum rival gears up for launch, with Bitcoin (BTC) bottom likely in – Crypto News News, Crypto Trading NewsSource: Cantering Clark/Twitter
Cantering Clark points out that Bitcoin is up over 11,000% from the bottom during the 2017 bull market. Meanwhile, Bitcoin posted gains of less than 2,000% in the 2021 bull market.

“Eyes having issues?”
“One Ethereum rival gears up for launch, with Bitcoin (BTC) bottom likely in – Crypto News News, Crypto Trading NewsSource: Cantering Clark/Twitter
The crypto analyst is also warning traders planning to short Bitcoin due to its relative underperformance over the past few weeks.

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

‘Never short a dull market.’

Kind of reminds me of the 2020 structure after the March lows.”

Featured Image: Shutterstock/GrandeDuc/Fotomay

Source: Crypto News Deutsch

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