A widely followed analyst and trader is offering his forecast on three crypto assets.
Starting with the fifth-largest crypto asset by market cap, the analyst pseudonymously known as Inmortal tells his 209,800 followers on the social media platform X that Solana (SOL) could replicate its rival Ethereum’s (ETH) explosive rally from early 2020 to late 2021 and skyrocket by similar multiples.
Ethereum went up from the low of a price of just under $90 reached in March of 2020 to an all-time high price of just below $5,000 which was recorded in November of 2021.
From the current price, Solana could go up by approximately 182% from the current level, according to Inmortal. If the fifth-largest crypto asset were to reach Inmortal’s peak-of-the-cycle target, Solana would have recorded a 60x gain from the December of 2022 low.
“Previous cycle ETH went from $80 to $4,800.
This cycle SOL will go from $8 to $480.”
Turning to Floki (FLOKI), Inmortal says that the memecoin is undergoing vertical accumulation, a situation where the price of an asset range-trades while gradually inching upwards.
Based on the pseudonymous analyst’s chart, it appears that Inmortal is suggesting that FLOKI could fall significantly after breaking above the all-time high of slightly under $0.00034 before going on to rally in a parabolic move.
FLOKI is trading at $0.000247 at time of writing.
Next up is the blockchain oracle Chainlink (LINK). According to the pseudonymous analyst, LINK could be preparing for the second wave of a rally.
Based on Inmortal’s chart, it appears that the analyst sees LINK rallying by around 68% from the current level to a price of $32.
Chainlink is trading at $19 at time of writing.
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The post Trader Says Large-Cap Ethereum Rival To Explode by Over 180% This Cycle, Updates Outlook on Floki and Chainlink appeared first on The Daily Hodl.