• Analyst Pentoshi is bullish on Solana (SOL) and believes that it could perform “super well” in the next bull run.
• He says that if SOL/BTC moves above its recent high of 0.00119 BTC ($35.59), then a bullish market structure would be printed.
• Pentoshi does not believe that SOL will mimic Ethereum’s meteoric ascent during the 2021 bull run, but still thinks it can generate decent gains for long-term holders.
Analyst Bullish on Ethereum Rival
An analyst by the name of Pentoshi believes that one Ethereum (ETH) rival, Solana (SOL), may perform “super well” in the next bull run and is a solid candidate to hold for the long term.
Retesting Resistance
In the near term, however, Pentoshi says that Solana may pull back to retest its previous resistance and turn it into support after rallying by over 150% in less than two months.
Printing Bullish Market Structure
Looking at the Solana/Bitcoin (SOL/BTC) ratio, the crypto trader says the pair must move above its recent high of 0.00119 BTC ($35.59) to print a bullish market structure.
Long-Term Gains Expected
Pentoshi does not believe that SOL will mimic Ethereum’s meteoric ascent during the 2021 bull run, but still thinks it can generate decent gains for long-term holders.
Current Price Action
At time of writing, SOL is trading for $24.74 and SOL/BTC is trading for 0.0008252 BTC ($2468).