In the midst of Crypto bloodbath, a popular crypto analysts and traders is predicting a bullish outcome for one of the well-known Ethereum (ETH) competitors.
An anonymous trader known as Guy, a host of Coin Bureau, informed his 2.09 million Youtube followers that he believes Solana (SOL), a Layer-1 protocol, will soon increase its trading value. Will double if the altcoin keeps rising.
In a new video, the strategist analyzes Solana from different aspects and says that Solana price could double if the currency continues with its present bullish momentum. Then he says that though this doesn’t look like a bull run, if the rally continues, SOL might even surpass the larger altcoins.
The analyst then brings up comments from FTX CEO Sam Bankman-Fried where the CEO said that Solana is undervalued. Hence, the analyst believes this is another proof that SOL could see a major bull rally provided the asset continues to trade in an upward trend.
Solana Price To Surge Against Ethereum
Then the Coin Bureau host also talks about Ethereum’s upcoming merger that will transform the current proof-of-work (PoW) to proof-of-stake (PoS). He quotes that the delayed merger is paving the way for other ETH rivals.
Then Guy claims that some Ethereum competitors like Solana, Avalanche, Near Protocol have gained traction as the merger nears. The host also emphasized that there are many traders who plan to hedge their portfolios as a precaution in case something goes wrong.
Furthermore, the expert put forths his opinion comparing ETH merge and Solana price trading and says Solana’s bull run could conflict the Merge.
The strategist brings up the weekly chart of Ethereum and claims that a pattern has formed where SOL abandons its price action against ETH.
Guy concludes his analysis claiming that it’s already six weeks that Solana is under bear control and with just a month left for ETH merger, there might be another multi-week rally against Ethereum.
This would push Solana to double bounce from its current price trading. At the time of publication, Solana is changing hands at $36.67 after a drop of 11.21% over the past 24 hours.
