Share this article
Ether to Extend Outperformance Versus Bitcoin Following Recent Breakout, FSInsight Says
Solana may see some consolidation in the near term following recent gains.
By Will Canny
Updated May 11, 2023, 6:04 p.m. Published Nov 4, 2021, 11:31 a.m.
Make us preferred on Google
Ether should rally to as high as $4,951 “with little to no resistance” after outperforming bitcoin recently and breaking through September highs, according to a report by FSInsight, a markets strategy and research firm.
FSInsight notes that ether prices have moved higher “without becoming noticeably overbought” on momentum gauges. “Further relative gains for ether over bitcoin still look to continue short term.”
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Read more: Ether, Bitcoin to Strengthen in Coming Weeks, FSInsight Says
The firm’s first upside target for ether is $4,951, followed by $5,826.
FSInsight expects bitcoin’s breakout to new weekly highs to lead to a retest of the October peak near $67,000.
Solana’s SOL token “remains a near-term standout” after reaching $235, but may see some minor consolidation following the latest rally. FSInsight predicts further gains up to $308.60 and suggests buying during dips. If, however, there is a pullback, FSInsight sees first support in SOL at $178.56 and then at $152.54.
Bitcoin was trading recently around $61,800, ether at $4,530, and SOL at $242 as of publication time.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Weaker dollar fails to spur bitcoin gains, but there's a reason for that
Gold and other hard assets are rallying on dollar weakness, but bitcoin is lagging as markets continue to treat it as a liquidity-sensitive risk asset.
What to know:
- Bitcoin has, unusually, not rallied alongside the slide in the U.S. dollar.
- JPMorgan strategists say the dollar’s weakness is being driven by short-term flows and sentiment, not changes in growth or monetary policy expectations, and they expect the currency to stabilize as the U.S. economy strengthens.
- Because markets do not view the current dollar decline as a lasting macro shift, bitcoin is trading more like a liquidity-sensitive risk asset than a reliable dollar hedge, leaving gold and emerging markets as the preferred beneficiaries of dollar diversification.
Top Stories
