This Ethereum Competitor To Surge 2x While ETH Prepares For The Merge, Per Analyst
In the midst of Crypto bloodbath, a popular crypto analysts and traders is predicting a bullish outcome for one of the well-known Ethereum (ETH) competitors.
An anonymous trader who is known as Guy, a host at Coin Bureau informs his 2.09 million Youtube followers that he is of the opinion that Solana (SOL), a layer-1 protocol will soon double its trading price if the altcoin keeps surging.
In a new video, the strategist analyzes Solana from different aspects and says that Solana price could double if the currency continues with its present bullish momentum. Then he says that though this doesn’t look like a bull run, if the rally continues, SOL might even surpass the larger altcoins.
The analyst then brings up FTX CEO Sam Bankman-Fried’s remark where the CEO stated that Solana is underrated. Hence, the analyst feels that this is another evidence that SOL could see a massive bull rally, provided the asset continues to trade upward.
Solana Price To Surge Against Ethereum
Then the Coin Bureau host also talks about Ethereum’s upcoming merger that will transform the current proof-of-work (PoW) to proof-of-stake (PoS). He quotes that the delayed merger is paving the way for other ETH rivals.
Then Guy claims that a few of the Ethereum competitors such as Solana, Avalanche, Near Protocol have gained traction as the Merger is near. The host also stressed on the point that there are many traders who are planning to hedge their portfolios as a precautionary measure if something goes wrong.
Furthermore, the expert put forths his opinion comparing ETH merge and Solana price trading and says Solana’s bull run could conflict the Merge.
The strategist brings up Ethereum’s weekly chart and claims that there is a formation of a pattern where SOL gives up its price action against ETH.
Guy concludes his analysis claiming that it’s already six weeks that Solana is under bear control and with just a month left for ETH merger, there might be another multi-week rally against Ethereum.
This would push Solana towards twice the surge from its current price trade. At the time of publication, Solana is changing hands at $36.67 after a pull back of 11.21% over the last 24hrs.Source