A prominent trader suggests that Solana (SOL) may be on the verge of significant rallies as it confidently tests the $120 level once more.
The pseudonymous analyst known as Inmortal shared with his 235,200 followers on X that he anticipates Solana could experience a parabolic surge reminiscent of Ethereum’s (ETH) earlier this year.
“Different structure, similar vibes.”
Ethereum saw a remarkable increase from approximately $1,550 in April to around $4,900 in September, achieving an impressive gain of over 216%.
Inmortal also pointed out that Solana’s $120 level has consistently functioned as a robust support level during market downturns.
“This level has provided support for more than 600 days.”
At present, Solana is trading at $138, reflecting a 1.2% increase on the day.
Looking ahead, the trader predicts that Bitcoin (BTC) might remain stagnant for several months before experiencing a dramatic upward movement toward new all-time highs near $150,000.
“Imagine.”
Currently, Bitcoin is priced at $88,679, showing a 1.3% uptick within the last 24 hours.
Additionally, Inmortal suggests that meme token Bonk (BONK) might be establishing a local bottom at a crucial level around $0.00000900, indicating a potential bullish turnaround.
“You only see this type of chart one to two times per year.”
BONK is currently trading at $0.000009555, down 1.9% over the last 24 hours.
Finally, the trader forecasts that Ethereum (ETH) is set to surge by more than 18% from its current price after bouncing off the lower threshold of a trading range around $2,800.
“$3,500: ETH.”
ETH presently trades at $2,963, marking a uptick of roughly 1% on the day.
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Featured Image: Shutterstock/Vink Fan/Natalia Siiatovskaia
