A closely followed crypto analyst has mapped out what he thinks Solana’s (SOL) route to new all-time highs will look like.
The pseudonymous analyst known as Inmortal tells his 87,000 Twitter followers that the smart contract platform bounced nicely off strong support and is currently positioning for a breakout into the $220 price area.
“Good reaction at daily demand. If price finds acceptance above $170, I think we’ll make a new ATH (all-time high).”
At time of writing, Solana is exchanging hands at $151.27, according to CoinMarketCap. A move to $220 represents an upside potential of over 45%.
Inmortal is also looking at FTT, the native token for crypto derivatives exchange FTX. The popular strategist says he’ll be accumulating the crypto in anticipation of a huge move up to at least the $80 level. If the trader’s forecast plays out, FTT will dip down the $50 level before seeing gains in the neighborhood of 60%.
“FTT/USD
I think [accumulating] FTT is the right move.”
Looking at Bitcoin, the crypto analyst says that BTC’s correction in September was the bears’ last hurrah as he now expects the king crypto to ignite a massive rally to $200,000.
“That was the last dip ever. See you at $200,000.”
Based on Inmortal’s chart, he predicts BTC to reach near the $220,000 level by Q1 next year. He then predicts at least a 30% correction to the $150,000 range before a subsequent 100% rally past $300,000.
Last week, Inmortal called for a 200% rally in proof-of-stake blockchain network Cosmos (ATOM), saying $100 was “programmed.”
“My dear cosmonauts, the plan hasn’t changed, $100 is programmed.
In the meantime, I’ll try to buy dips below $30.”
At time of writing, ATOM is trading at $33.25.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Kalifer – Art Creations/stockphoto-graf
