Solana (SOL) Is Reportedly Expecting Bullish Moves

According to the latest reports, it seems that the Ethereum rival Solana (SOL) is expecting some bullish moves. Check out the latest reports below.

It’s been just revealed that the popular analyst is setting price targets for Ethereum challenger Solana (SOL). He is also addressing the potential price for Ethereum.

Pseudonymous analyst Altcoin Sherpa recently said that he’s using the Fibonacci retracement tool to plot out support and resistance levels for Solana.

He also noted the fact that things may go south for the smart contract platform if the $32 range (0.618 Fibonacci level) is lost.

“I’m long, targeting high $30s. Will get out if 0.618 is lost on high time frames. Don’t follow me on this one, it’s countering the trend. I will look for shorts around $42 if it gets there.”

At the moment of writing this article, SOL is trading in the red and the coin is priced at $35.46.

The analyst is also addressing Ethereum. Overall, it looks like he is still bearish on ETH with the only silver lining being the heavy buying activity at current prices could enable Ethereum to carve out a short-term bottom.

“I don’t see anything bullish about this chart personally. One of the only things is that this area is a high-volume node/people like to transact at this level, usually means it’s a decent [resistance to support] level.”

He also continued and said the following:

“Other than that, trend is bearish on all [timeframes].”

At the moment of writing this article, ETH is trading in the red, and the coin is priced at $1,129.

Stay tuned for more news, and make sure to keep your eyes on the market as well. Despite the massive volatility in the crypto space, the bullish predicitons keep coming. They are also surrounding Bitcoin.