A widely followed crypto analyst says Ethereum (ETH) rival Solana’s (SOL) devaluation of nearly 45% from its 2024 high could ultimately be a “lifetime opportunity” for long-term bulls.
Pseudonymous crypto trader Inmortal tells From his 212,400 followers on the social media platform
“Lifelong opportunity.”
Based on the trader’s chart, he initially predicted the SOL would drop to $115, which it did on Saturday, before reversing and recovering toward its upside target.
At the time of writing, SOL is trading at $155.18, up almost 9% in the past day.
Looking at Bitcoin (BTC), the trader says the crypto king may have already reached almost $60,000. According to Inmortal, bears should only expect BTC to fall if it reaches the $60,000 level again.
“No SFP (swing Failure Pattern), $60,700 low front run.
Just an awkward consolidation and a slow grind.
IF it’s $60,000 again, THEN lower.
Just my opinion.”
The trader too say the recent correction was relatively tame and it is only a matter of time before Bitcoin eventually enters a new phase of euphoria.
At the time of writing, Bitcoin is trading at $66,325.
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Generated image: Midjourney