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Experienced crypto analyst Altcoin Sherpa predicts a strong rally in the crypto market by the end of the year or early next year. Sharing his thoughts with his followers on social media platform X, Altcoin Sherpa expressed optimism for a rally phase expected to start around December or January 2025 for cryptocurrencies. The analyst drew his followers’ attention particularly to 2 altcoins.
Altcoin Sherpa’s Ethereum Analysis and Commentary
Altcoin Sherpa expects a period of market turbulence in the coming months, with volatile trading conditions continuing throughout September and October, and possible false breakouts in November. However, he foresees a market-wide uptrend as the year ends.
Focusing particularly on the altcoin king Ethereum (ETH), the analyst remains cautious, noting that he does not see an immediate catalyst to turn bullish as the current price approaches a strong support level. He emphasized that ETH’s price is correcting towards a high-volume area, specifically in the $2,200 to $2,400 range, which indicates strong support.
However, the analyst described the overall market sentiment surrounding Ethereum as “meh” and pointed to a lack of strong bullish momentum.
Identified Best Entry Point for Solana: Around $110 Levels
After Ethereum, Altcoin Sherpa turned to Solana (SOL), noting that the asset, known as a significant competitor to Ethereum, showed signs of weakening at the $125 support level. He warned that this support appeared “battered” after multiple tests, indicating potential downside risks.
The analyst advised investors to be cautious and consider entering the market as prices start to rise rather than trying to catch a falling knife, noting that levels around $110 or below could offer better buying opportunities for SOL.
