Ethereum

Solana

Note

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-ethereum-bull-run-after-etf-approval/" data-wpel-link="internal">Analyst Predicts Ethereum Bull Run After ETF Approval</a><br></p>
<p style="text-align: justify">After the approval process for the <strong>Ethereum</strong> ETF, attention returned to the market. The ETF was approved, causing significant price fluctuations. The initial drop followed by a recovery did not go unnoticed. During this period, a well-known analyst suggested that Ethereum (ETH) could start a major bull run if a scenario pointing to the <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">near future</a> comes true.</p> 
<h2 id="ethereum-dollar-outlook-and-analyst-comments">Ethereum Dollar Outlook and Analyst Comments</h2> 
<p style="text-align: justify"><strong>Credible Crypto</strong>, an analyst, made important statements to his followers on X. He mentioned that Ethereum holding onto significant support in the hourly chart and Bitcoin (BTC) possibly falling below $60,000 could lead to a parabolic move.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-355441" src="https://coin-turk.com/wp-content/uploads/2024/05/ethereum-coin-turk-com.png" alt="" width="1036" height="614"></p> 
<blockquote> 
 <p>ETH is still holding this inverted resistance [around $3,300] as support, so it doesn’t look too bad right now. My primary scenario was BTC falling to $62,000-63,000, and I still think we will eventually drop, but for now, it looks good… If BTC reaches $62,000-63,000 and ETH is still holding above this area [above $3,360], it will likely be a very significant rise.</p> 
</blockquote> 
<p style="text-align: justify">Despite the ETF news, Ethereum’s price dropped more than 2% in the last 24 hours. After the drop, ETH continues to trade at $3,721. Meanwhile, Bitcoin is still finding buyers around $68,900, indicating a 2.85% increase.</p> 
<h2 id="solana-coin-commentary">Solana Coin Commentary</h2> 
<p style="text-align: justify">The analyst also noted that <a href="https://en.coin-turk.com/solana-captures-market-spotlight-with-remarkable-growth/" data-wpel-link="internal">Solana</a> (SOL) could experience a decline against Bitcoin if BTC pulls back to $62,000 and then starts an upward move again. He mentioned that a significant correction could occur for Solana, and <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> might redirect their capital to Bitcoin following its potential rise.</p> 
<blockquote> 
 <p>The scenario below explains how I currently see things with BTC and SOL. All this is triggered/comes into play with BTC falling to $62,000-63,000. Note that a simultaneous drop in SOL and rise in BTC could occur due to the SOL/BTC chart looking like a distribution top… Looking at SOL in the context of this [SOL/BTC] chart, this makes sense.</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-355442" src="https://coin-turk.com/wp-content/uploads/2024/05/bitcoin-coin-turk-com-1.png" alt="" width="1034" height="605"></p> 
<p style="text-align: justify">Looking at the SOL/BTC pair, the price is seen finding buyers around 0.00245 BTC ($167), indicating a roughly 3% drop in the last 24 hours.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-predicts-ethereum-bull-run-after-etf-approval/" data-wpel-link="internal">Analyst Predicts Ethereum Bull Run After ETF Approval</a></h5>

Analyst Predicts Ethereum Bull Run After ETF Approval

Table of Contents

COINTURK NEWS

Other articles published on May 24, 2024

Crypto Influencer Ian Balina Found in Violation of US Securities Laws by Texas Court

Shiba Inu (SHIB) Pays Tribute to Dogecoin Iconic Meme

Ethena Price Prediction: ENA Is Top Trending After SEC Approves Ethereum ETFs, And Experts Say Co...

Get your SelfKey iD for FREE with this Simple Onboarding Guide!

Best Presale in 2024: MoonBag to the Top with Kangamoon and Dogeverse Dipping the Bottom

After Securing $5.2 Million, Liquid Restaking Protocol YieldNest Launches on Mainnet

Join our free newsletter for daily crypto updates!