Solana Primed To Skyrocket Over 340% From Current Price, According to Crypto Trader – Here’s the Tim
The Daily Hodl
Solana Primed To Skyrocket Over 340% From Current Price, According to Crypto Trader – Here’s the Timeline
Daily Hodl Staff February 24, 2024
A closely followed crypto strategist believes that Ethereum (ETH) competitor Solana (SOL) is gearing up for an explosive rally.
Pseudonymous analyst Inmortal tells his 206,500 followers on the social media platform X that Solana could soar more than 340% from its current value by 2025.
He believes that SOL may go parabolic similar to how ETH reached its all-time high in 2021.
“ETH went from $80 to $4500 in 2021.
SOL will go from $8 to $450 in 2025.”
However, the trader predicts that in the near term, ETH will outperform SOL.
“Just talking out loud. ETH has a good chance to outperform SOL in the coming months. After that, SOL will be the leader again.”
He is closely watching whether Solana can flip key resistance levels into support with the first key price target of $120-$130, followed by $190-$200.
“Three most important levels in SOL. We teleport from one to the other.”
Source: Inmortal/X
Solana is trading for $100.16 at time of writing, down nearly 3% in the last 24 hours.
The trader is also predicting Bitcoin will retest the $47,000 level next week and then rally beyond $53,000 in early March.
“Not interested in shorts. I’ll turn off my brain and wait for this setup to develop.”
Source: Inmortal/X
Lastly, the trader says that the memecoin dog-themed crypto asset Floki (FLOKI) is likely to break out before memecoin rival Dogecoin (DOGE).
“DOGE will end this 600-plus days accumulation soon. I would say that FLOKI will follow DOGE but I think it will be the other way around. Floki will lead this cycle.”
Source: Inmortal/X
Floki is trading for $0.0000346 at time of writing, up more than 3% in the last 24 hours. Meanwhile, Dogecoin is trading at $0.0849 at time of writing, down 1% in the last week.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
This Blue-Chip Ethereum Rival Will Explode by Over 150% in the Short Term, Says Coin Bureau Host Guy Turner
Mark Emem February 24, 2024
The host of the Coin Bureau YouTube channel, Guy Turner, is bullish on an Ethereum (ETH) rival that’s more than tripled in price since October of 2023.
In a new video, Turner tells the 2.41 million subscribers of the Coin Bureau channel that the native token of the layer-1 blockchain NEAR Protocol (NEAR) could go up by around 151% from the present level if the current conditions driving the upward trend persist.
“If this demand-side momentum continues, NEAR could rally as high as $8 in the short term, consistent with the bull flag pattern which appears to be forming on the weekly and the zone of resistance from the previous crypto bull market which is likewise around $8.
The fact that NEAR only has a market cap of around $3.5 billion means that it has a lot of room to grow relative to the other layer-1 blockchains.”
Source: Coin Bureau/YouTube
A bull flag is a continuation pattern that suggests an asset will continue rising after a consolidation period.
NEAR is trading at $3.19 at time of writing, up by around 228% from the October of 2023 low of $0.971.
The Coin Bureau host also says that based on on-chain data, the demand for NEAR has “gone exponential”.
“The number of [NEAR’s] total wallets is about to hit 100 million, the number of daily active wallets is approaching one million and the number of daily transactions has been going parabolic since last September…
To top it all off the total value locked (TVL) in NEAR’s decentralized finance protocols is starting to grow rapidly too.”
TVL refers to the amount of capital deposited within a protocol’s smart contracts and is often used to gauge the health of a crypto ecosystem.
Over the long term, Turner says NEAR could even reach far greater heights.
“If NEAR follows [Solana’s] footsteps from the previous bull market, it could rally by more than 20x during this bull market. But make no mistake, it won’t be ‘up only’.”
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Generated Image: DALLE3
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