Ethereum(ETH), Binance(BNB), Matic & Solana(SOL) Poised to Emerge Out of Shell
A prominent crypto analyst and trader The Crypto Dog is laying out bullish price expectations for Ethereum (ETH), Binance Coin (BNB), and another under-the-radar altcoin he believes is due for a rally.
The trader tells his 409,700 followers in a new tweet that an ascending broadening wedge is emerging on ETH, with a possible gain of nearly 20% in the coming months, coinciding with the release of a critical update aimed at rebuilding the smart contract platform’s fee structures.
I wager this is bullish consolidation on ETH, with a $3,000+ target lined up for an EIP 1559 splash this summer.”
As for Ethereum after a sharp drop last week, the Ethereum price is hovering near its all-time peak. ETH is currently trading at $2,645, a few points below its all-time high of $2,717. In the last few days, it has risen by more than 30%, bringing its overall market capitalization to more than $304 billion.
BNB, Binance’s native token, is expected to reach new highs in the coming weeks, with a price goal of $800 as early as mid-May, according to the analyst. He adds that,
I think it’s reasonable BNB revisits and surpasses all-time highs.”
Binance Coin reached $550 on Monday, following a 10% increase in the previous 24 hours. BNB currently has a market capitalization of over $82 billion. At the time of writing Binance was hovering around $553.73.
The Crypto Dog also mentions Polygon (MATIC), claiming that the ERC-20 token is on the verge of a bullish breakout and a 75 percent price increase from its current $0.57 price.
This ETH pattern is being led by MATIC according to him and the Fundamentals will eventually catch up to price (which have been mooning recently). Once we clear this range, $1+ will be on the table.
Another coin that the well-known trader is keeping an eye on is Solana, a smart contract network (SOL). Despite the fact that SOL has increased by 7,105% in the last year, The Crypto Dog believes the coin is still in its infancy.
We’re unironically still very early to SOL. How many of you have set up a Solana wallet yet? What projects have solidified themselves as household name brands yet? How many farms can you even ape into? It’s all just getting started.”