A popular cryptocurrency analyst known as Credible Crypto believes that Ethereum (ETH) could experience a significant bull run if certain conditions are met in the near future. According to the analyst, Ethereum could see a parabolic rise if it manages to hold a key support level on the hourly chart while Bitcoin (BTC) dips to the $60,000 range.
Currently, Ethereum is trading at $3,721, down more than 2% in the last 24 hours, while Bitcoin is trading at $68,253, remaining flat on the day. Credible Crypto also warns that Solana (SOL) may face a breakdown against Bitcoin (SOL/BTC) if Bitcoin dips to $62,000 and then continues to rise. In this scenario, he believes that market participants may shift their capital towards Bitcoin, leading to a corrective move for Solana.
At the time of writing, SOL/BTC is trading at 0.00245 BTC ($167), down nearly 3% in the last 24 hours. Overall, the analyst suggests that the current market conditions could be favorable for Bitcoin and potentially challenging for altcoins like Solana.
It is important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrencies. Remember that all trades and transfers come with risks, and any losses incurred are the responsibility of the individual.