Solana, which is among the projects that managed to make 100x in 2021, is suffering along with other altcoins due to the rally in Bitcoin.
Cryptocurrency analyst Michael van de Poppe covered Solana in his latest Youtube video and shared his expectations.
“Honestly, it’s quite difficult to enter Solona at this point. If you are investing by looking at price movements, you should wait for a support level for the new entry.
You can focus on the $122, $97 and $78 levels and these ranges to establish the potential correct position until the next altcoin rally. ”
The analyst, who also looked at the SOL/BTC chart, said:
“When it comes to Solana versus Bitcoin, we often see that you shouldn’t rush the position. Because right now Bitcoin is running. The range you should look at in this pair is the range of 30k to 16k satoshis. Maybe 19k would be considered.
You should not approach this for fear of losing the opportunity. This is where you can get where you want to go if you focus on the lows. The current levels are interesting to buy Solana, but still, I think Solana will be one of the highest risers in an altcoin rally that I expect to see in Q1 2022.”
You can watch the full statement of the analyst in the video below.
*Not Investment Advice.