A closely followed crypto trader believes that Solana (SOL) could soon mirror the parabolic 2020-21 price pattern of Ethereum (ETH).
Pseudonymous crypto analyst Inmortal tells his 194,900 Twitter followers that Solana’s price action may be in a similar set up to ETH just before it soared from $400 to nearly $5,000 in a matter of months.
“ETH vs SOL. If you remember this fractal, you’re a bear market OG.”
Based on Inmortal’s chart, he suggests Solana could soon skyrocket back to all-time highs and beyond after breaching the resistance of $60, similar to ETH hitting $400 in late 2020 before its explosion to new highs.
Solana is trading for $19.71 at time of writing, up 3.3% during the last 24 hours.
Widely followed pseudonymous analyst Kaleo is also bullish on Solana.
Kaleo tells his 593,100 Twitter followers that he believes Solana will start to move to the upside against Bitcoin (BTC).
He says that he’s impressed by how SOL has recovered from the hit it took during the fallout of the FTX debacle, and how its ecosystem has rapidly developed over the last several months.
“The more I see how much the Solana community has continued to build after the FTX collapse, the more likely I think it is that it fills the gap back to pre-FTX insolvency levels this year.”
Solana is currently trading for $0.000634 BTC ($19.70 USD) at time of writing. Kaleo predicts that Solana will soon breakout toward $0.00200 BTC.
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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.
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