Ether to Extend Outperformance Versus Bitcoin Following Recent Breakout, FSInsight Says

Solana may see some consolidation in the near term following recent gains.

AccessTimeIconNov 4, 2021 at 11:31 a.m. UTC
Updated Nov 4, 2021 at 2:00 p.m. UTC

Will Canny is CoinDesk's finance reporter.

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.”

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.

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Will Canny is CoinDesk's finance reporter.

CoinDesk - Unknown

Will Canny is CoinDesk's finance reporter.

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