The Flow Horse, a popular pseudonymous analyst on Twitter, expects that it won’t be long before Solana-based memecoins will explode again. For example, he points out dogwifhat (WIF), which currently appears to be going through a period of consolidation on the daily chart.
According to the analyst, it will not be long before WIF suddenly breaks out.
WIF ready to take off his hat
“It looks like WIF is ready to take its hat off,” said The Flow Horse, which means that the currency is about to start a price explosion.
WIF is currently trading around 35% below the all-time high the coin reached in March this year.
The analyst is also bullish on Ethereum, especially due to the approval of the Spot Ethereum ETF by the SEC. He is so bullish on Ethereum that he expects the coin to regain ground against Bitcoin.
Ethereum looks strong
“The Ethereum ETF trade is better than Bitcoin for many different reasons, but simply put:
The market still hasn’t realized that a tilt is happening and you can guarantee there will still be doubt and disbelief until we get a headline,” said The Flow Horse.
In the short term, he expects a small correction for Ethereum, and then a strong upward trend against Bitcoin.
However, it remains to be seen to what extent the Ethereum ETF will be a success. For example, investors in the ETF do not receive a return via staking, which can be a big reason for many people not to invest in Ethereum through the ETFs.
After all, this means you miss out on 3-6% on the currency on an annual basis, which other investors can get.
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Source: https://newsbit.nl/analist-solana-memecoins-gaan-opnieuw-exploderen/
