Cryptocurrency markets have recently attracted attention with especially large fluctuations and price changes. As a reflection of these fluctuations, the prices of crypto assets rise and fall rapidly. However, this volatility also presents great opportunities for investors. In this context, the performance of certain altcoins such as Solana (SOL) is particularly noteworthy.
Experienced and closely followed analysts such as Inmortal believe that SOL could stage a strong recovery from the recent major correction. An important point that supports this belief is that SOL bulls have successfully defended the critical support around $120.
Inmortal suggests that SOL has a significant uptrend potential in the coming period. The charts shared by the analyst show that SOL is currently poised to surge towards the 2024 high of $320. Titled “The Last Bottom” graphicEvaluating SOL’s past performance shows that this uptrend is based on a strong foundation.
Currently, the value of SOL is hovering around $148, and based on the upside potential predicted by the analyst, an increase of approximately 116% can be expected. However, this is only a prediction and the probability of occurrence is not always guaranteed. Investors should make their decisions considering their own risk profiles and goals and follow the pulse of the market closely.
Inmortal also predicts that three popular meme coins will cluster alongside Solana. The analyst is closely monitoring Floki (FLOKI), which is trending upward after retesting the 200 moving average (MA) on the eight-hour chart and reclaiming support at $0.00015. Additionally, Inmortal believes FLOKI will drop to around $0.00017 before rising to $0.00025 by the end of this month.
IF $LEFT goes up, THEN $FLOKI, $DOGE, $PEPE go up too.
Especially interested in $FLOKI
> Deviation + Retest + 200MA
>A bit lagged pic.twitter.com/ZMU19e6FuF— Inmortal (@inmortalcrypto) May 5, 2024
Another altcoin on the investor’s radar is Seedify.Fund (SFUND), which we know from blockchain games. According to the analyst, SFUND is currently in the process of strengthening the $2.60 level as support.
“We are retesting the 578-day accumulation range for the second time. “You definitely don’t see moves like this every day.”
According to the chart he shared, the analyst seems to predict that SFUND will rise to $6 in the coming months. At the time of this writing, SFUND is trading at $2.65.
You can access current market movements here.
