Solana (SOL) cryptocurrency has not yet fully recovered, according to the assessment made by “The Flow Horse”, a closely followed analyst. The analyst notes that altcoin bulls continue to accumulate SOL regardless of the price impact. Here are the details…
According to the analyst, the accumulation, regardless of SOL’s price, reflects altcoin holders’ inclination to hold on to their crypto assets and their confidence in SOL’s future value. This shows that the cryptocurrency is based on a solid foundation and investors see long-term potential.
The analyst believes that SOL is preparing for the next level and this will be achieved with intense buying activity. relates. Continuous and consistent buyer activity in the crypto community signals a potential rise in SOL’s price. According to the analyst, this is quite exciting and points to the next target where SOL price could move towards the $80 level.
“There is consistently consistent buyer activity for SOL across all locations. This is very exciting. “I think $80 is a reasonable next target.”
NEWS CONTINUES BELOW
Continuing his analysis, the analyst points out that Solana bounces every time it reaches a key trend indicator on the four-hour chart. This technical indicator shows SOL’s strong performance in the market and that it is moving in line with certain trend indicators. The analyst emphasizes that technical analysis supports the potential rise of SOL and that investors should determine their strategies by taking these indicators into account:
“The LEFT looks ready to try another rally. The single standard deviation band of the trend has worked pretty clearly so far considering the volume weighted average price (VWAP).”
At the time of this writing, SOL is trading at $68.52.
Another altcoin on the analyst’s radar is Chainlink (LINK). According to the analyst, LINK has huge upside potential after nearly a month of consolidation. This creates excitement among investors, as the likelihood of LINK showing a strong performance in the coming period increases.
“Several cryptocurrencies are breaking cleanly out of months-long consolidations, and this is not the result of an extensive short squeeze at this time.”
The analyst also revealed that he is currently accumulating LINK in anticipation of an upward breakout.
“After broadly reducing most of my altcoin futures positions and the spot portfolio I shared still remains long, I am adding more LINK here in anticipation of another rally.”
You can follow the current price movement here.