All eyes are on the leading cryptocurrency, Bitcoin, ahead of the Bitcoin Halvingas market analysts predict more positive moves for the crypto token. However, crypto analyst Jason Pizzino recently made a strong case for altcoins as Ethereum (ETH) It is Solana (SUN) and why much attention should also be paid to them.
Ethereum and Solana Still Poised for Strong Moves Ahead of Bitcoin
Pizzino suggested in a video on his YouTube channel that Ethereum could experience a breakout in the coming months. This followed his analysis of the ETH/BTC pair, in which he noted that Bitcoin was currently gaining prominence with new all-time highs (ATH) while ETH appears to be consolidating.
As highlighted by the analyst, this is similar to the previous bull run when ETH consolidated while Bitcoin reached new ATHs. However, ETH experienced a significant increase soon after while Bitcoin cooled off. As such, if history were to repeat itself, ETH could once again enjoy a trend reversal soon and make a parabolic upward movement.
Pizzino also mentioned SOL as another altcoin that could potentially reach new prices relative to Bitcoin’s value. In the last bull run, the cryptographic token also experienced significant negative moves as Bitcoin reached new ATHs. However, a trend reversal occurred quickly afterwards, with SOL enjoying upward movements.
Therefore, SOL, like ETH, could be prepared for price increases if history repeated itself. Pizzino added that this is a time to be vigilant and view any price declines as a buying opportunity to position yourself for those price gains that may be on the horizon.
Ethereum showing some strength
Crypto Analyst Michaël van de Poppe echoed Pizzino’s sentiments in a publish on its X platform (formerly Twitter). When analyzing the ETH/BTC pair, he noted that the price of ETH has not yet seen any significant movement in relation to that of Bitcoin. However, he added that it is a “good sign to see some slight strength in the Ethereum.”
Like Pizzino, van de Poppe also expects Ethereum to make a massive move against Bitcoin’s value soon. The crypto expert explicitly stated that he still expects “a lot” from the second-largest crypto token by market cap. In addition to Ethereum, van de Poppe continued to defend other altcoins while believe they are still undervalued.
In another X posthe highlighted that altcoins are down between 25% and 40% from recent highs. However, van de Poppe noted that this is the perfect time to take positions and that these consolidations should be seen as opportunities rather than disadvantages.
BTC takes crypto market down with flash crash | Source: BTCUSD on Tradingview.com
Featured image from The Top Coins, chart from Tradingview.com
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