The Flow Horse, a well-known trader, predicts a significant breakout for CELO, an Ethereum scaling altcoin.
He anticipates bullish moves in the Ethereum layer-2 subsector, with CELO leading the charge.
The trader sees CELO as having reached a bear market bottom and poised for an uptrend.
CELO’s Price Action
At the time of writing, CELO is trading at $0.875, up nearly 10% in the last 24 hours.
The trader’s chart suggests that CELO may have carved a bear market bottom and is poised to begin its uptrend.
Solana vs. Ethereum (SOL/ETH) Ratio
The Flow Horse also analyzes the Solana versus Ethereum (SOL/ETH) ratio.
He predicts that Ethereum will likely outperform Solana, possibly until the market becomes too optimistic about the approval of a spot Ethereum exchange-traded fund (ETF).
Current Market Prices
At the time of writing, Ethereum is trading at $3,033, while SOL is worth $103.10.
Disclaimer
The opinions expressed in this article are not investment advice.
Investors should do their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.
