Investment Manager Views Ethereum As Risky But a Huge Rally Could Erupt, Analyst Predicts ATH Rally for Solana

The crypto market recorded a huge drop last week amidst a wide range of macroeconomic factors. Following Ethereum’s drop to $3,000, Timothy Peterson, an investment manager at Cane Island Alternative Advisors, has said that Ethereum poses more risk than Bitcoin. 

However, despite the predominant bearish sentiment, analysts like Cas Abbé have predicted that the Ethereum price could be preparing for its biggest move in years. Similarly, Moonbag has spotted a cup and handle pattern on the Solana 1D price chart that could send it to a new all-time high above $450.

Ethereum Could Erupt Despite Predominant Bearish Sentiment

As a result of last week’s crypto market crash, the price of Ethereum plunged to $3,000 support level. Since then, Ethereum has stabilized and is attempting to recover above the $3,200 resistance.

In addition to the price decline, Timothy Peterson, an investment manager and digital asset researcher at Cane Island Alternative Advisors, explained that spot Ether ETFs have posted net outflows in four of the past five weeks. 

The outflows account for roughly 7% of the cost-basis capital invested in the products. Because of this increasing bearish sentiment, Peterson has said that Ethereum is currently a riskier asset than Bitcoin.

Despite the bearish sentiment, Cas Abbé, a popular crypto analyst on X, has predicted that the Ethereum price could be preparing for its biggest rally in years. While the ETH dominance has dropped to a key support level, Cas Abbé hints that the upcoming Fusaka upgrade will fuel the price rally. 

The last major upgrade, Pectra, inspired a 53% Ethereum price rally. The Fusaka upgrade is scheduled for December 3, three weeks from today. If the same trend repeats, the Ethereum price could rally to the $4,800 range. 

1D Chart Looks Bullish As Solana Recovers Above $140

Solana has been recovering strongly since it fell to the $130 range and has overshot the resistance at the $140 level. The Solana price is now looking to rise above the $145 resistance level, which could spark a bigger price increase.

Zooming out to the 1D price chart, the pseudonymous crypto analyst Moonbag has said that he is very bullish on Solana to rally to a new all-time high. He shares the same view as Santiment, which predicted that the Solana price could see a massive surprise rally.

According to Moonbag, Solana is forming a massive cup and handle on the 1D timeframe, which could lead to a breakout rally. If Solana completes the classic cup and handle pattern, the analyst predicts that the Solana price could rally to a new ATH at $459. 

Another analyst, Waleed Ahmed, also believes that Solana could see a rally soon. According to the analyst, from the support level at $140, the Solana price could rally to $211 to complete the ABCD pattern.

In Summary

Although the crypto market is currently bearish, analysts still believe there is hope for a reversal. If history repeats itself, the upcoming Fusaka could change the trend for Ethereum, while the Solana price could rally to a new ATH.