The cryptocurrency market has been experiencing a notable recovery in recent days. Notably, Jim Cramer, host of CNBC’s Mad Money and a former hedge fund manager, made a bold prediction that has sparked attention. Cramer predicted that Kamala Harris would win the upcoming U.S. presidential election, stating, “I don’t think Trump can win.” This statement has caused a stir in the world of Bitcoin and altcoins, with some interpreting it in reverse.
The “Inverse Cramer” Phenomenon
Jim Cramer’s predictions are often viewed by investors as contrarian indicators. There is a widespread belief that whatever Cramer predicts, the opposite is likely to happen. As a result, many in the crypto community have taken his prediction about Kamala Harris as a sign that Donald Trump might actually win the election. Some market participants suggest that a Trump victory could provide a major boost to the crypto market.
Trump and Crypto: A Potential Boost?
Donald Trump has shown a relatively moderate stance towards cryptocurrencies in the past. If he wins the election, expectations are high that the crypto markets will see significant growth. Many believe that his presidency could lead to looser regulations and an environment more favorable to the growth of digital assets. The prospect of less regulatory pressure has crypto investors excited.
Positive Outlook for Solana (SOL)
Cramer’s prediction, alongside the overall positive sentiment in the altcoin market, has had a ripple effect on major coins like Solana (SOL). Currently the fifth-largest cryptocurrency by market cap, Solana appears poised for a price increase based on technical analysis. Analyst Zameer Attar notes that SOL has formed a double-bottom pattern at a key support level, often considered a bullish signal in market analysis.
Key Levels for Solana
Solana is forming a double-bottom pattern around the $137 support level, which coincides with the 200-day exponential moving average (EMA). This pattern is typically seen as a strong indicator of an upward trend. Should SOL break through the $150 neckline, analysts predict it could see a 10% rise, reaching $165 in the short term.
At the time of writing, Solana is trading at $145.7, having gained 5.2% in the last 24 hours. During this period, Solana’s trading volume increased by 7%, while open interest in futures positions grew by 4.3%. These increases suggest growing investor interest and confidence in Solana’s potential.
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