Top Analyst Says Solana-Based Memecoin Primed To Surge Higher Again, Updates Outlook on Ethereum

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on one memecoin built on the Solana (SOL) blockchain while revealing his forecast for Ethereum (ETH) going forward.

The analyst pseudonymously known as Flow Horse tells his 216,400 followers on the social media platform X that dogwifhat (WIF), whose logo features a dog wearing a hat, appears to be undergoing consolidation on the daily chart.

According to the pseudonymous analyst, WIF could then turn bullish after the consolidation phase.

“It looks like WIF isn’t ready to take off the hat.”

WIF is trading at $2.97 at time of writing, down by around 38% from the all-time high reached in March.

Turning to ETH, Flow Horse says that if the U.S. Securities and Exchange Commission (SEC) approves a spot Ethereum exchange-traded fund (ETF) for the second-largest crypto asset by market cap months after Bitcoin’s (BTC), the impact could result in a weeks-long uptrend for ETH.

“The Ethereum ETF trade is better than Bitcoin for too many reasons to list, but simply put:

The market is still caught off guard by the pivot and you can guarantee there is still some pocket of doubt and disbelief that won’t enter until we get a headline.

Short-term pop and correction followed by a strong trend up over weeks.

**Also, it is easier to move ETH than it is BTC**”

Ethereum is trading at $3,864 at time of writing, up by around 29% over the past seven days.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3