A closely followed crypto trader believes that Solana (SOL) just witnessed its last major correction for this market cycle.
Pseudonymous analyst Inmortal tells his 213,300 followers on the social media platform X that SOL bulls successfully defended support at around $120.
The trader shares a chart suggesting that the blue-chip altcoin is now poised to rally to a fresh 2024 high at $320.
“Last dip ever.
SOL.”
At time of writing, SOL is worth $153.45, suggesting an upside potential of nearly 110% if the altcoin hits the analyst’s target.
Inmortal also predicts that a trio of memecoins will rally alongside Solana. The trader is taking a close watch on Floki (FLOKI), which he says looks bullish after retesting the 200 moving average (MA) on the eight-hour chart and reclaiming support at $0.00015.
Inmortal believes that FLOKI will dip to around $0.00017 before surging to $0.00025 later this month.
“IF SOL goes up, THEN FLOKI, DOGE, PEPE go up too.
Especially interested in FLOKI
> Deviation + Retest + 200 MA
> A bit lagged.”
At time of writing, FLOKI is trading at $0.000179.
Another coin on the trader’s radar is Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming. According to the analyst, SFUND is currently in the process of cementing the $2.60 level as support.
“Retesting a 578 days accumulation, for the second time.
Definitely, you don’t see this every day.
SFUND.”
Looking at the trader’s chart, he seems to predict that SFUND will rally to $6 in the coming months. At time of writing, SFUND is trading at $2.65.
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