According to a widely-followed crypto analyst, Ethereum (ETH) rival Solana (SOL() may be setting up for an explosive rally following a technical bullish pattern.
Ali Martinez, an analyst on social media platform X tells 69,000 of his followers that SOL could be printing an Adam-and-Eve pattern.
Adam and Eve patterns are viewed by some as bullish formations, as they indicate that an asset is about to break through its horizontal resistance once it has reached a bottom.
Says Martinez,
“Solana might be shaping up for an Adam and Eve pattern, suggesting a potential rise to $164. If SOL clears that resistance, we could see a 33% surge toward $220!”
SOL currently trades for $158. This is a small increase from the previous day.
Martinez looks at another altcoin with a large market cap. BNBTom Demark’s (TD) Sequential Indicator is a bearish indicator for the BNB Chain token.
The TD Sequential Indicator is a tool for technical analysis that identifies trend exhaustion, and possible price reversals based upon the close prices over a certain number of period.
Martinez’s chart shows an indicator that flashes a bearish sign just under the mark of $600 for BNB.
Says Martinez,
“The TD Sequential presents a sell signal on the BNB daily chart!”
BNB currently trades for $570. This is less than 1% of its previous day’s price.
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