1 April 2024
All eyes look to be on the flagship crypto, Bitcoin, ahead of the Bitcoin Halving, as market analysts predict further upside moves for the crypto token. However, crypto analyst Jason Pizzino recently made a strong case for altcoins like Ethereum (ETH) and Solana (SOL) and why much focus should also be placed on them.
Ethereum And Solana Still Primed 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 came following his analysis of the ETH/BTC pair, in which he noted that Bitcoin was currently taking the spotlight with new all-time highs (ATH) while ETH looks to be consolidating.
As highlighted by the analyst, this is similar to the previous bull run when ETH consolidated while Bitcoin was hitting new ATHs. However, ETH experienced a significant rise soon after then while Bitcoin cooled off. As such, if history were to repeat itself, ETH could once again enjoy a trend reversal soon enough and make a parabolic move to the upside.
Pizzino also mentioned SOL as another altcoin that can potentially move to new prices against Bitcoin’s value. In the last bull run, the crypto token also experienced significant moves to the downside as Bitcoin hit new ATHs. However, a trend reversal quickly followed afterward, with SOL enjoying moves to the upside.
Therefore, SOL, like ETH, could be primed for price surges if history were to repeat. Pizzino added that this is a time to be aware and see any price dip as a buying opportunity to position for these price gains that could be on the horizon.
Ethereum Showing Some Strength
Crypto analyst Michaël van de Poppe echoed Pizzino’s sentiments in a post on his X (formerly Twitter) platform. While analyzing the ETH/BTC pair, he noted that ETH’s price hasn’t made any significant move against Bitcoin’s as of yet. However, he added that it is a “good sign to see some slight strength in Ethereum.”
Like Pizzino, van de Poppe also expects Ethereum to make a massive move against Bitcoin’s value soon enough. The crypto expert explicitly stated that he still expects “a lot” from the second-largest crypto token by market cap. Besides Ethereum, van de Poppe has continued making a case for other altcoins as he believes they are still undervalued.
In another X post, he highlighted that altcoins are down between 25% and 40% from their recent highs. However, van de Poppe remarked that this is the perfect time to take positions and that these consolidations should be seen as opportunities rather than a drawbacks.