An anonymous cryptocurrency analyst and trader known as Credible Crypto has shared his thoughts on the potential future of Ethereum (ETH). According to him, if certain conditions are met, Ethereum could experience a significant surge in value.

Credible Crypto, who has a substantial following of 394,900 users on the social media platform X, suggests that Ethereum could go parabolic if it manages to maintain a crucial support level on the hourly chart while Bitcoin (BTC) drops to a lower range of around $60,000.

At present, ETH is trading at $3,721, showing a decrease of over 2% in the last 24 hours. In contrast, Bitcoin is trading at $68,253, remaining relatively stable throughout the day.

Credible Crypto also warns about the potential downfall of Solana (SOL) against Bitcoin (SOL/BTC) if Bitcoin drops to as low as $62,000 before rebounding. He believes that in this scenario, market participants would shift their capital to take advantage of the next upward surge for Bitcoin, resulting in a significant corrective move for Solana.

The SOL/BTC pair is currently trading at 0.00245 BTC ($167), experiencing a decrease of nearly 3% in the last 24 hours.

Please note that the opinions expressed by Credible Crypto are not investment advice, and it is crucial for investors to conduct their own research before making any high-risk investments in cryptocurrencies or digital assets. Transfers and trades are undertaken at the individual’s own risk, and any resulting losses are their responsibility. The Daily Hodl, where this information was sourced, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice.