Analyst Predicts Significant Rally for Solana and Other Altcoins
Release: 2024/05/23 21:14 Reading: 738
Analyst Predicts Significant Rally for Solana and Other Altcoins
Known by the nickname Inmortal, a leading cryptocurrency analyst has made bold predictions about popular altcoins like Solana (SOL), suggesting it could experience an explosive rally of over 230%. The analyst also provided significant evaluations for altcoins such as Pepe (PEPE), Floki (FLOKI), and Chainlink (LINK).
Expects Solana to Peak Between 400 and 600 Dollars
Sharing his latest market observations with his followers on social media platform X, Inmortal expects Solana to reach an all-time high (ATH) by the end of summer and eventually see a cycle peak between 400 and 600 dollars.
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Inmortal's analysis suggests that Solana will consolidate before breaking its cross-resistance, paving the way for a rise to new ATHs. As known, Solana's mainnet asset SOL last recorded its ATH at approximately 260 dollars in November 2021. Currently, Solana is trading at 178 dollars.
Closely Monitoring PEPE, FLOKI, and LINK
Inmortal also highlighted the potential impact of Ethereum's (ETH) recent rally on memecoins like PEPE and FLOKI. He emphasized that Ethereum's movement would continue to provide the momentum needed for these altcoins to rise.
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The analyst particularly noted that FLOKI could rise to 0.000340 dollars, which corresponds to an increase of over 50% from its current price level of 0.000223 dollars.
In addition to SOL and popular memecoins, Inmortal is also focused on Chainlink's mainnet asset LINK. The analyst expects LINK to rise to 28 dollars if it can hold above the support level of 16 dollars on a three-day timeframe. At the time of writing, LINK is trading at 16.35 dollars, down 2% in the last 24 hours. According to Inmortal, if Chainlink's community, often referred to as “Marines,” manages to keep the price above the indicated support level, a strong rally will be seen.
Source: COINTURK NEWS
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