A closely followed crypto analyst shared his predictions for how Bitcoin (BTC) and Solana (SOL) will perform for the rest of the year.
The analyst, known by the pseudonym Inmortal, told 179,200 Twitter followers that Bitcoin trading will continue at a wide range over the next six months. told.
“You’re going to explode with boredom for the rest of the year.
$25,000-27,000 will be revisited for people to panic sell. $38,000 will be revisited to get people to buy with FOMO (fear of missing out).
This is how they steal your precious coins.”
In the short term, Inmortal predicts that Bitcoin will recover towards its critical resistance at $32,500.
“BTC $32,500.”
The next crypto under the analyst’s review is smart contract platform Solana. According to Inmortal, SOL appears to follow ETH’s market structure from July 2017 to January 2021. During the period in question, Ethereum hit a high of $1,400 before losing 95% of its value.
“ETH vs SOL.”
Looking at Inmortal’s chart, the crypto analyst predicts that SOL will bottom at $20 by the end of this year before starting a new bull market. In the short term, however, Inmortal has bullish prospects in SOL, considering the altcoin has suffered a massive drop from its record high.
“I buy more SOLs here. After falling 86% from its all-time high, it’s a huge opportunity for me.”
Looking at Inmortal’s chart, the SOL appears to have formed a bullish divergence suggesting the possibility of a short-term trend reversal.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.