A popular crypto analyst has made a bold prediction about Solana (SOL) and backed three memecoins to continue surging.
The analyst has defined the ongoing SOL phase as the “last dip ever” while predicting a fresh all-time high of $320.
A popular crypto analyst going by the name Inmortal on the X platform has shared a bold prediction about Solana (SOL). The analyst who has a following of about 213,300 followers has backed SOL to reach a new all-time high in the coming months.
According to him, the altcoin is going through its “last dip ever” and will reach a fresh high of $320. However, he calls on the bulls to defend the $120 support to maintain the short-term bullish outlook.
At the time of writing, SOL is trading at $146 after a 7% correction in the past 24 hours. The altcoin is still in the green zone, after recording a 21% surge in the last 7 days.
If SOL is going to reach the predicted levels, this would offer a 110% potential gain for any investor taking a position at current prices. This bullish outlook is shared by other top experts and investors. As CNF reported, even institutions are backing the Ethereum rival. Franklin Templeton has backed Solana to succeed, pointing out its rapidly growing ecosystem.
Solana’s ecosystem continues to grow, with technical analysts projecting that Jito (JTO) and Jupiter (JUP) will embark on a bull rally, and the oracle network Pyth is preparing to break out of the bear cycle.
Crypto Analyst Backs FLOKI, DOGE and PEPE
Crypto analyst Inmortal went on to point out that beyond SOL, memecoins would experience a bullish period. The analyst reveals that if SOL stages a bullish breakout, a trio of memecoins, that is FLOKI, DOGE, and PEPE will also rally to retest recent highs.
He explains:
IF SOL goes up, THEN FLOKI, DOGE, PEPE go up too.
Especially interested in FLOKI
Deviation + Retest + 200 MA
> A bit lagged.
In the first quarter of 2024, memecoins were leading the bullish trend with FLOKI, SHIB, DOGE, and PEPE posting remarkable gains.
Floki (FLOKI), in particular, is on the radar of the trader who believes it shows bullish signs. After testing the 200-day moving average on the eight-hour chart and finding support at $0.00015, the trader predicts a short-term dip to $0.00017 followed by a surge to $0.00025 later this month.
Another coin on the trader’s radar is Seedify.Fund (SFUND). This is an incubator and launchpad specializing in blockchain gaming. The trader notes that its price is retesting a 578 days accumulation, for the second time. Cementing its position at the $2.60 level as support, the analyst foresees a rally that will end with the altcoin reaching $6.
Retesting a 578 days accumulation, for the second time.
Definitely, you don’t see this every day.$SFUND pic.twitter.com/NQg7rNnJbv
— Inmortal (@inmortalcrypto) May 5, 2024
The post Analyst Predicts Solana Rally, Anticipates Surge in Memecoins FLOKI, DOGE, and PEPE appeared first on Crypto Adventure.