A widely followed crypto analyst says that one Ethereum (ETH) competitor looks solid while updating his outlook on Bitcoin (BTC) and Fartcoin (FARTCOIN).
In a new thread, pseudonymous crypto trader Altcoin Sherpa tells his 254,800 followers on X that smart contract platform Solana (SOL) looks solid as it makes its way toward the $250 level.
“$250 is the area to break but things are looking pretty solid. Would stay long until shown otherwise.”
Source: Altcoin Sherpa/X
Solana is trading for $248 at time of writing, a 1.5% increase on the day.
Moving on to the top crypto asset by market cap, the trader says BTC looks bullish and its next stops will be the $120,000 price tag and then new all-time highs (ATHs).
“BTC next two regions up, $120,000 and then ATH regions. Bullish until shown otherwise.”
Source: Altcoin Sherpa/X
BTC is trading for $117,413 at time of writing, a 1.4% increase on the day.
Concluding his analysis with the meme asset Fartcoin, Sherpa says the token has three positive narratives going for it: being tied to Solana, being a big cap meme, and being a relevant meme coin last year.
The analyst notes the altcoin is on the cusp of breaking through its 200-day exponential moving average (EMA) after failing to do so earlier this week.
“FARTCOIN pulled back from the first test of the 200-day EMA on the one-day [chart] a few days ago. Time to break that. Hot air rises.”
Source: Altcoin Sherpa/X
FARTCOIN is valued at $0.921 at time of writing, a 11% increase on the day.