Experienced cryptocurrency analyst Altcoin Sherpa shared his latest observations on various cryptocurrencies, including Ethereum (ETH) competitor Solana (SOL), Bitcoin (BTC), and Celestia (TIA). The analyst, who has a significant following on social media platform X, believes Solana will perform well in the coming months despite his neutral stance on its short-term performance.
Analyst’s Solana and Bitcoin Analysis
According to Altcoin Sherpa, Solana’s price range of $120-$170 is an attractive accumulation zone. While SOL needs overall market conditions to improve for significant movement, he added that the asset could perform well in the second half of the year.
SOL is trading at $140.87 with a slight drop of over 1% in the last 24 hours at the time of writing. Solana currently ranks 5th among the largest cryptocurrencies by market capitalization.
Altcoin Sherpa also shared his short-term optimistic outlook for Bitcoin. He foresees a few days of upward movement for Bitcoin but remains uncertain about its mid-term expectations. He emphasized that next week’s market behavior will be crucial in determining whether BTC will return to its previous trading range.
Closely Monitoring Celestia
In addition to Solana and Bitcoin, Altcoin Sherpa is closely monitoring the modular Blockchain network Celestia. He highlighted that he is closely watching TIA due to a potential bull flag formation. This formation typically indicates a technical setup for an upward movement following a short consolidation period.
The analyst set a target purchase price of $6.00 or slightly lower for TIA. As of now, TIA is trading at $6.82 with a drop of over 3.5% in the last 24 hours and ranks 66th among the largest cryptocurrencies by market capitalization.
