The cryptocurrency market managed to catch the upward momentum again with Bitcoin’s strong moves. Bitcoin is showing strength by approaching 108 thousand dollars. The altcoin market is relatively calm, with exceptions such as XRP. However, investors and traders see some pullback moves as buying opportunities. Ethena (ENA), an Ethereum-based synthetic dollar protocol, looks set to continue its red-hot streak, says an analyst with a large following. The analyst also puts Ethereum rival Solana (SOL Coin) on the table.
Altcoin Sherpa: Buy all possible dips in ENA!
As you follow on Kriptokoin.com, the leading crypto Bitcoin is beating the market dust. Bitcoin bulls are pushing hard to finish 2024 higher. However, investors are looking for investment opportunities beyond BTC. The analyst, nicknamed Altcoin Sherpa, predicts that ENA will outperform most of the market. For this, the analyst says that ENA is worth investing when its price drops. In this context, the analyst makes the following statement:
I think this will continue to rise. My average is still quite high at $0.92, but this is still outperforming most of the market. Buy all possible dips.
Meanwhile, ENA ranks 48th in the crypto league by market capitalisation. ENA has seen an increase of more than 8 times in the last three months. The token is trading at $1.15 at the time of writing. It has also increased by about 18% in the past week.
‘SOL Coin will outperform ETH and BTC!’
Altcoin Sherpa then discusses the smart contract platform Solana (SOL Coin). The analyst predicts that SOL will be less bullish in the medium term, especially compared to other top crypto assets, and will be outperformed by the top two crypto assets by market capitalisation. In this context, Altcoin Sherpa shares the following assessment for SOL Coin:
I think SOL will underperform both ETH and Bitcoin in the coming months. I don’t know what will happen in the long run and I still believe it’s the best casino in the world. But I also have to be rational.
Meanwhile, SOL was trading at $221 at the time of writing. The 6th-ranked cryptocurrency by market capitalisation has risen more than 2.5% in the last 24 hours. However, it recorded a decline of about 5% on its monthly chart.
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