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. 1 min read
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.”
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
CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
What to know:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
Top Stories
