A closely watched crypto trader believes that Solana (SOL) has just witnessed the last major correction for this market cycle.
Pseudonymous analyst Inmortal tells his 213,300 followers on social media platform X that the SOL bulls successfully defended support around $120.
The trader shares a chart indicating that the blue-chip altcoin is now poised to rise to a new 2024 high at $320.
“Last dive ever.
SOL.”
At the time of writing, SOL is worth $153.45, suggesting an upside potential of almost 110% if the altcoin hits the analyst’s target.
Inmortal also predicts that three memecoins will join Solana. The trader is keeping a close eye on Floki (FLOKI), which he believes appears bullish after retesting the 200 moving average (MA) on the eight-hour chart and regaining support at $0.00015.
Inmortal believes FLOKI will drop to around $0.00017 before rising to $0.00025 later this month.
“IF SOL goes up, THEN FLOKI, DOGE and PEPE go up too.
Particularly interested in FLOKI
> Deviation + Retest + 200 MA
> A little bit behind.”
At the time of writing, FLOKI is trading at $0.000179.
Another coin on the trader’s radar is Seedify.Fund (SFUND), an incubator and launch pad specializing in blockchain gaming. According to the analyst, SFUND is currently strengthening the $2.60 level as support.
“Retesting an accumulation of 578 days for the second time.
Certainly, you don’t see this every day.
SFUND.”
Looking at the trader’s chart, he seems to predict that SFUND will rise to $6 in the coming months. At the time of writing, SFUND is trading at $2.65.
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Generated image: Midjourney