#ALTCOİN is unlikely to repeat its path like in 2024, with forecasts about #Bitcoin and #Ethereum
A widely followed cryptocurrency analyst says that one of the leading tier-one cryptocurrencies may not see another rise like in 2024.
In a new discussion, cryptocurrency trader Altcoin Sherpa tells his 248,700 followers on the social media platform X that Solana ($SOL ) may not achieve the massive gains against Bitcoin (#SOLBTC ) on the weekly chart as it did last year.
"Aside from some minor fluctuations here and there, I don’t expect Solana to outperform Bitcoin on any chart with a timeframe longer than now. I’m not saying Solana is done; clearly, it’s not done; I just don’t expect it to see a rise like in 2021/2024."
The SOL/BTC pair is trading at 0.0013768 Bitcoin ($143) at the time of this report, stable over the day.
The analyst says that the Bitcoin market correction may have ended after its drop to the $103,000 range.
"I see Bitcoin's price at a local bottom."
He also says that Bitcoin is trading sideways in a price range with an upper limit of $106,826 and a lower limit of $103,127, and it may break through soon.
"Bitcoin's price has remained within this same range for about three weeks now, with deviations on both sides (up and down). The price hasn’t changed significantly, and your only task now is to hold through this volatility and avoid collapsing. It’s probably best not to make any trades (I made a few trades today and lost most of them)."
Bitcoin is trading at $104,359 at the time of this report, stable over the day.
Finally, the analyst says Ethereum ($ETH ) may trade sideways for another three months, similar to the pattern in 2024.
"We’re all waiting for Ethereum to outperform... I think it will have to wait longer. Its price has been down here for 90 days last year, and it may do the same thing."
However, it is expected that Ethereum will eventually see a strong breakout with the convergence of several exponential moving averages (EMAs), which may indicate a reversal in the trend in technical analysis.
"Ethereum may remain stable here with no movement. This kind of pressure means 'a big move is coming.'"
The #ETH is trading at $2,501 at the time of this report.
