Analyst hints at high likelihood of a surge in Ethereum killers, backing Solana and AVAX

Two Ethereum killers are on the verge of rising prices; they include Avalanche (AVAX) and Solana (SOL).

Pentoshi’s position on Solana and Avax

Pentoshi, a pseudonymous cryptocurrency expert and analyst, said on Twitter that he believes Solana (SOL) is about to turn bullish momentum.

Related reading | Negative sentiment deepens in cryptocurrencies, why recovery may not last

The Solana crypto project is trading at a key support level following last week’s massive sell-off momentum. Currently, the SOL token is trading at $47.89, a 4% increase over the 24-hour period.Also, last week, the coin fell to around $40.33

Solana Set Restores Previous Losses | Resources: TradingView.com

Avalanche (AVAX) is the next coin Pentoshi Believe Worth discussing. Analysts say the coin’s ability to sustain above the $25 support increases its chances of a rally towards the $40 level. Currently, the AVAX token is trading at $28.63, up 5% from the 24-hour price. Also, last week, the coin fell to around $22.13.

Analyst hints at high likelihood of a surge in Ethereum killers, backing Solana and AVAX
AVAX is about to hit $30 Resources: TradingView.com

Pentoshi also explained that a rebound in the crypto market is highly likely. Therefore, he believes that once the sentiment changes, the market will move from outright bearish to extremely bullish.

Pentoshi predicts that traders and investors will see a turnaround in their trades sooner or later. So they’ll go from exclaiming that this is a dead bear market to screaming and rejoicing in alt season. However, experts also predict that most altcoins may never reach record prices again.

SOL and Avax Blockchain

Solana provides users with high-end digital and financial solutions. As a “newcomer”, Solana introduces attractive solutions for users, such as low transaction costs, fast transactions, etc., to maximize their opportunities. The Solana blockchain utilizes the SOL native token for utility, governance and payment facilitation.

Although it still has a long way to go, Solana is considered one of Ethereum’s “killers” as it even ranks among the top 10 blockchains by market cap.

Related reading | Polkadot (DOT) is trading below $11; how soon will it reach $14?

On the other hand is the Avalanche cryptocurrency project. Avalanche is a multi-chain smart contract network for hosting decentralized applications (or dApps). Avalanche is one of the well-known contenders for Ethereum, the second largest blockchain in the world.

However, Avalanche is known to be more compatible than Ethereum and provide better support for other applications and projects.

Solana and Avalanche are among the coins leading the crypto bear market over the past two weeks, showing a red flag to traders who are long coins. Many even predict that Solana and Avalanche will be among the coins that cannot survive if Bitcoin falls again. However, this new week recorded a difference in coins.

Featured image from Pexels, chart from TradingView.com



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