A widely followed crypto analyst thinks the Ethereum (ETH) competitor Solana (SOL) will rise more than 10x at some point in 2025.
The pseudonymous crypto trader Inmortal tells his 194,800 Twitter followers that SOL will likely be priced at $250 at some point in 2025.
At time of writing, SOL is trading for $23.34, suggesting an increase of over 971% should it hit Inmortal’s target.
In the coming months, however, the crypto trader believes that SOL will likely drop below $20 before resuming its uptrend.
“$20 before $40 SOL.”
The analyst is also keeping an eye on the decentralized oracle network Chainlink (LINK), which he predicts will see a big move to the upside after more than a year of accumulation.
“Not surprised about LINK pump.
> It’s terribly undervalued.
> +400 days accumulation.
> Textbook deviation.
You are welcome.”
Looking at the trader’s chart, he appears to predict Chainlink will rally to close to $20. At time of writing, LINK is trading for $7.59.
Inmortal also thinks that Bitcoin (BTC) will likely revisit its all-time high (ATH) at around $69,000 during the second half of 2024 if it follows the timeline of its previous market cycle.
“If this cycle is similar to the previous one:
> The mid-cycle rally would be over by now.
> There would be 467 days left to get back to previous ATH levels.”
In the short term, he sees Bitcoin rallying on the back of a short squeeze. A short squeeze occurs when traders who borrow an asset at a certain price in hopes of selling it for lower to pocket the difference are forced to buy back the assets they borrowed as momentum moves against them, triggering further rallies.
Says Inmortal,
“Shorts are getting greedy. Let’s squeeze them just to have fun. Eyes on $30,400.”
At time of writing, BTC is worth $29,117.
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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.
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