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<p>The post <a rel="nofollow" href="https://coinpedia.org/altcoin/solana-sol-price-might-see-major-downtrend-in-july-while-ethereum-eth-price-set-to-soar/">Solana (SOL) Price Might See Major Downtrend In July, While Ethereum (ETH) Price Set To Soar</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>A renowned crypto analyst with a substantial following on Twitter has recently revised his outlook on two of the leading smart contract-enabled blockchain platforms: Ethereum (ETH) and Solana (SOL).</p> 
<h2 class="wp-block-heading" id="strong-ethereum-s-bullish-signal-strong"><strong>Ethereum’s Bullish Signal</strong></h2> 
<p>Addressing his 694,700 Twitter followers, the pseudonymous analyst known as Pentoshi <a href="https://twitter.com/Pentosh1/status/1673479771483774978">highlights</a> a compelling bullish signal for Ethereum. He notes that the proportion of Ethereum staked, meaning locked-in smart contracts to participate in various protocols and earn rewards, has surpassed the amount available on centralized exchanges. This shift, according to Pentoshi, may potentially lead to a price appreciation for Ethereum.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">There is now more <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> staked, than there is available on CEX's<br><br>"But why price not up"<br><br>There will come a point in time, when all the people who wanted to sell have sold and the balance shifts slowly, than all at once<br><br>I am still under-allocated. Gib 6 months of sideways please <a href="https://t.co/HBPjRL9xJZ">https://t.co/HBPjRL9xJZ</a> <a href="https://t.co/v7vYuDDCz4">pic.twitter.com/v7vYuDDCz4</a></p>— Pentoshi 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f427.png" alt="🐧" class="wp-smiley" style="height: 1em; max-height: 1em;"> euroPeng 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1ea-1f1fa.png" alt="🇪🇺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Pentosh1) <a href="https://twitter.com/Pentosh1/status/1673479771483774978?ref_src=twsrc%5Etfw">June 26, 2023</a>
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<p>He further predicts that as the number of sellers decreases, the price of Ethereum is likely to experience an upswing. He explains that a tipping point will be reached when those who intended to sell have already done so, causing a gradual shift in the balance of supply and demand. This process may eventually result in a significant price surge.&nbsp;</p> 
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 <p><strong><em>“But why price not up”</em></strong></p> 
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<p>Additionally, he also<a href="https://twitter.com/Pentosh1/status/1673420127251886094?s=20"> points</a> out other factors that could contribute to Ethereum’s rally. Ethereum has implemented a burning mechanism, which occasionally makes the token deflationary. This means that, over time, the total supply of Ethereum could decrease due to tokens being permanently removed from circulation.</p> 
<p>In his view, Ethereum’s new “fundamentals” and the forthcoming Bitcoin halving could create an attractive atmosphere for Ethereum’s rise. As Ethereum is used increasingly in on-chain trading and a portion of the supply is staked, deflation may drive prices higher.</p> 
<h2 class="wp-block-heading" id="h-solana-s-potential-dip-in-july"><strong>Solana’s Potential Dip in July?</strong></h2> 
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   <p lang="en" dir="ltr">I do think you'll be able to buy <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> cheaper than current price in Q3 <br><br>But it's amazing how many people are writing it off <a href="https://t.co/Qe4DUnNCaR">pic.twitter.com/Qe4DUnNCaR</a></p>— Pentoshi 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f427.png" alt="🐧" class="wp-smiley" style="height: 1em; max-height: 1em;"> euroPeng 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1ea-1f1fa.png" alt="🇪🇺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Pentosh1) <a href="https://twitter.com/Pentosh1/status/1674128428231020557?ref_src=twsrc%5Etfw">June 28, 2023</a>
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<p>Shifting his focus to Solana (SOL), currently the 10th-largest cryptocurrency by market cap, Pentoshi offers a contrasting view. He suggests that Solana might experience a dip in its price between July and September.</p> 
<p>While acknowledging the possibility of Solana’s price sliding during Q3, the analyst also <a href="https://twitter.com/Pentosh1/status/1674128428231020557">highlights</a> the prevailing sentiment of some individuals who might be prematurely dismissing the cryptocurrency. This acknowledgment underscores the resilience and potential for Solana’s long-term prospects despite the anticipated short-term dip.</p> 
<p>In conclusion, the crypto analyst presents a mixed outlook for Ethereum and Solana. Ethereum’s staking surge and deflationary characteristics create an optimistic outlook, whereas Solana might undergo a temporary dip before potentially recovering and displaying its underlying strength.</p>

Solana (SOL) Price Might See Major Downtrend In July, While Ethereum (ETH) Price Set To Soar

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