Solana (SOL) May Be Poised for Massive Surge as Altcoin Market Breakout Begins, Predicts Analyst Henrik Zeberg

Economist Henrik Zeberg is turning bullish on one Ethereum (ETH) rival while predicting a broader altcoin market breakout.

Economist Henrik Zeberg is turning bullish on one Ethereum (ETH) rival and predicting a broader altcoin market breakout.

In a new analysis, Zeberg points to a potential surge for Solana (SOL) after a retracement. He’s using the Elliott Wave theory to forecast a massive run for the ETH competitor.

The theory suggests that an asset will usually experience a five-wave rally, with wave three being the longest and strongest move up.

“Altseason has begun and is now about to move into its most explosive phase,” Zeberg says. “Solana has been leading after a strong wave two pullback. It should now begin its most powerful move up towards its final target.”

Solana is priced at $196 at the time of writing, according to CoinGecko. The altcoin has slid over 5.5% in the last seven days.

The economist also predicts that altcoins will begin outperforming Bitcoin (BTC) during this phase of the market cycle.

“Wave three in alts now beginning,” Zeberg says. “Hold on!”

The analyst adds that Bitcoin will likely rally in the short term as 2025 begins. He’s using the Elliott Wave theory to predict a bullish move for BTC.

“BTC update! Just touched down on daily 50-day simple moving average,” he says. “Still see this as a potential wave two in a rising wedge. It is my working hypothesis. We should see a nice rally into early January!”

Bitcoin is priced at $98,871 at the time of writing, according to CoinGecko. The leading crypto has remained largely flat over the last 24 hours.