New crypto predictions are out
The pseudonymous analyst known in the industry as Smart Contracter said that Ethereum (ETH) challenger Solana (SOL) has taken out the resistance of its symmetrical triangle formation.
“Multi-month accumulation break on SOL.”
At time of writing, SOL is priced at $46.98.
The crypto strategist says that fellow smart contract protocol Avalanche (AVAX) as well as Ethereum scaling solution Polygon (MATIC) have also torched the resistance of their respective triangles.
At time of writing, AVAX is trading at $29.44.
The analyst is also addressing Aave (AAVE). Smart Contracter believes that the decentralized finance altcoin is in the process of carving a cycle bottom against Bitcoin (AAVE/BTC).
“An old favourite, AAVE putting in a bottom against BTC.”
Here’s what the analyst had to say about Bitcoin.
“If BTC breaks $24,000, any corrective WXY structure from the lows is invalid in my eyes, and this move up would then be bullish accumulation and a series of 1-2s.”
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $24,477.
Crypto adoption boom
The mass adoption of digital assets continues, despite the market volatility. Take a look at the latest moves in the crypto space that support mainstream adoption.
It’s been just revealed that the world’s largest asset manager just launched a private trust that tracks the performance of Bitcoin (BTC) for wealthy clients.
In a statement, BlackRock made sure to point out the fact that the spot Bitcoin private trust will cater to institutional clients in the United States.