A popular cryptocurrency analyst believes that Solana (SOL) may soon create a price pattern similar to the 2020-21 rally of leading altcoin Ethereum (ETH).
Analyst Solana, known in the market as Inmortal, argues that it has Ethereum-like growth potential and we may witness a similar price action in the future. In the 2020-21 period, which the analyst noted, the leading altcoin ETH rose from $ 400 to $ 5,000 in a few months. According to Inmortal, the structure just before this rise is now Solana. in the graph available.
“ETH and SOL. If you remember this fractal, you are old in a bear market.”
Based on Inmortal’s chart, it can be said that Solana could quickly skyrocket to all-time highs and beyond after breaking the $60 resistance.
At press time, Solana is trading at $1.54, up 1.2% over the past 24 hours.
Inmortal isn’t the only analyst optimistic about Solana. Widely followed pseudonymous analyst Kaleo is also optimistic about Solana. Kaleo believes Solana will go bullish against Bitcoin (BTC). According to the analyst, SOL managed to survive the blow during the consequences of the FTX debacle and the ecosystem has developed rapidly over the past few months.
“As I see the Solana community continue to build after FTX’s collapse, I think it’s highly likely to return to pre-crash levels.”
Solana is currently trading at 0.000634 BTC ($19.70). Kaleo predicts that Solana will reach 0.00200 BTC soon.
You can follow the current price action here.