KOL Smart Contracter believes that SOL and an exchange coin have bottomed out
A prominent analyst says that Ethereum competitor Solana (SOL) and a stock exchange coin have bottomed out.
Known in the industry by the smart contracter nickname, the person told his 197,800 Twitter followers that he expects the Solana smart contract platform to resume its upward trend after a sharp correction from all-time highs.
“SOL is trying to bottom out here by completing a three-wave movement from the all-time high (WXY) …
The price has given another impetus and will soon reach a new all-time high. ”
SOL / USDT 4-hour chart | The source: Smart Contracter / Twitter
Smart Contracter uses Elliott Waves, a technical analysis method that predicts future price movements by analyzing the psychology of market participants through each wave. According to the analyst’s chart, SOL has just completed a second wave correction and is now ready to trigger a strong wave three rally.
The crypto strategist also looks at his Bitcoin pair (SOL / BTC). According to the smart contracter, SOL / BTC is preparing for the start of the fifth and final wave of its upward trend.
“SOL / BTC is consolidating in a long time frame. It will explode soon. ”
Weekly SOL / BTC Chart | The source: Smart Contracter / Twitter
Another coin on the analyst’s radar is FTT, the utility token of the crypto derivatives exchange FTX. Smart contracter says the hourly chart confirms the macro bottom outlook for the token.
“It’s been a while since anyone mentioned FTT, it’s like it’s been forgotten.
The 60% decline offers an attractive buying opportunity. Collect and wait ”.
Hourly FTT / USD Chart | The source: Smart Contracter / Twitter
FTT is currently trading at $ 41.95, up 3.25% over the past 24 hours and over 16% from its 7-day low of $ 36.01.
You can see the SOL and FTT prices here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.