Crypto Analyst Predicts Major Surge for Top Ethereum Competitor, Beam’s Outlook Remains Positive
A highly regarded analyst and trader has expressed bullish sentiment on a leading Ethereum (ETH) competitor while providing updates on the gaming altcoin Beam (BEAM).
Altcoin Sherpa, a pseudonymous analyst with a substantial following, recently shared his insights on the social media platform X. He believes that the native token of the layer-1 blockchain Solana (SOL) could experience a significant surge in price.
According to Altcoin Sherpa, there are potential opportunities for accumulation within the $168-$208 range for Solana. He advises traders not to overthink the price for the next few months, suggesting that it could go “way higher”.
At the time of writing, Solana is trading at $187.
Regarding Beam, Altcoin Sherpa suggests that the gaming token could face a decline of approximately 17% if a major support level on the daily time frame breaks. Nevertheless, he remains optimistic about Beam’s long-term prospects and does not plan to sell anytime soon.
Beam is currently trading at $0.0316.
Altcoin Sherpa also shares his outlook on Ethena (ENA), a synthetic dollar protocol that has risen by over 100% since its recent token generation event. While he believes that Ethena may eventually experience a significant pullback, he acknowledges that the timing of such a correction is uncertain. In the short term, he views price dips as buying opportunities.
Ethena is currently trading at $1.11.
Overall, the analyst’s predictions highlight the potential for substantial gains in both the Ethereum competitor Solana and the gaming altcoin Beam, while also acknowledging the potential volatility in the market.