The renowned trader, operating under the pseudonym The Flow Horse, foresees a notable surge in a specific Ethereum (ETH) scaling altcoin. Addressing his audience of 202,500 followers on the social media platform X, The Flow Horse expresses expectations for movements within the broader Ethereum layer-2 sector.
With a focus on a prominent cryptocurrency transitioning to serve as an Ethereum scaling solution, namely the native asset of Celo (CELO), the trader suggests the potential for a substantial breakout.
“I anticipate positive momentum within the ETH layer-2 category. A well-established pair, positioned near the musical instrument, is showing signs of breaking out from a monthly accumulation range. I’m strategically accumulating a position and have acquired spot CELO.”
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Analyzing the trader’s chart, it appears that CELO may have established a bottom in the bear market and is positioned for an upward trend. As of the current writing, CELO is valued at $0.875, marking an increase of nearly 10% in the past 24 hours.
The trader is also assessing the Solana versus Ethereum (SOL/ETH) ratio. Evaluating SOL/ETH, The Flow Horse suggests that Ethereum is likely to outperform Solana, at least until the market becomes overly optimistic about the approval of a spot Ethereum exchange-traded fund (ETF).
“For the past two months, the trend seems likely to continue downward. It may see a reversal when enthusiasts of ETFs increase the probability of Ethereum approval from 60% to 90%.”
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