A crypto trader who is closely followed by many believes that Solana (SOL) has experienced its final significant correction for this market cycle. In a post on social media platform X, the analyst, known as Inmortal, informed his 213,300 followers that SOL bulls successfully defended the support level at around $120. He shared a chart indicating that the blue-chip altcoin is now positioned to rally and reach a new high of $320 by 2024. At the time of writing, SOL is valued at $153.45, suggesting a potential increase of nearly 110% if the altcoin reaches the analyst’s target.
In addition to his views on Solana, Inmortal also predicts that three memecoins will experience a rally alongside it. He is closely monitoring Floki (FLOKI), which he believes looks promising after retesting the 200 moving average on the eight-hour chart and reclaiming support at $0.00015. Inmortal anticipates that FLOKI will dip to around $0.00017 before surging to $0.00025 later this month. He states that if SOL goes up, FLOKI, DOGE, and PEPE will also go up, with a particular interest in FLOKI due to its deviation, retest, and 200 MA lag.
Another coin catching the trader’s attention is Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming. Inmortal suggests that SFUND is currently solidifying the $2.60 level as support after retesting a 578-day accumulation for the second time. He highlights that this is a rare occurrence. According to his chart, he predicts that SFUND will rally to $6 in the coming months. At present, SFUND is trading at $2.65.
It is important to note that the opinions expressed by Inmortal are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are undertaken at one’s own risk, and any losses incurred are the individual’s responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor do they provide investment advice.
