Analyst predicts significant growth of Ethereum’s main competitor

The analyst who accurately predicted the crash of cryptocurrencies in 2022 is turning bullish on Solana (SOL) and Render (RNDR).

The expert, who goes by the pseudonym Capo, told his 90,280 followers on Telegram that Ethereum (ETH) competitors Solana and RNDR, a blockchain rendering GPU, are likely to be in an uptrend. «Added more to SOL and RNDR longs».

At the time of writing, Solana is trading at $ 133, down almost 7% in the last 24 hours. Meanwhile, RNDR is trading at $ 7.17, down 10% over the past 24 hours.

Capo is also keeping an eye on the three-day OTHERS chart, which tracks the total market capitalization of cryptocurrencies, excluding the 10 largest digital assets and stablecoins, for signs of a rebound.

«Altcoins: the green zone is supportive, but we should see a rebound soon. If the green zone holds, we should expect a move to the red zones (T1 and T2). If the green zone fails to hold, then to the blue zone. Judging by the sentiment and indicators, I think the bullish scenario is more likely,» the analyst emphasized.

The trader also claims that ETH against Bitcoin could be preparing for a breakout. «ETH/BTC: looks bullish».