A widely followed trader believes Solana (SOL) may be gearing up for massive rallies after retesting the $120 level.
The pseudonymous analyst Inmortal tells his 235,200 followers on X that Solana may experience a parabolic rally similar to what Ethereum (ETH) did earlier this year.
“Different structure, similar vibes.”
ETH went from about $1,550 in April to about $4,900 in September, a more than 216% gain.
The analyst also says that Solana’s $120 level has consistently acted as a support level during market corrections.
“This level has provided support for more than 600 days.”
Solana is trading for $138 at time of writing, up 1.2% on the day.
Next up, the trader says that Bitcoin (BTC) may chop around for months before having an explosive move to new all-time highs around $150,000.
“Imagine.”
Bitcoin is trading for $88,679 at time of writing, up 1.3% in the last 24 hours.
The trader also says that the meme token Bonk (BONK) may be forming a local bottom at a key level around $0.00000900, indicating a potential bullish reversal.
“You only see this type of charts one to two times per year.”
BONK is trading for $0.000009555 at time of writing, down 1.9% in the last 24 hours.
Lastly, the trader predicts that Ethereum (ETH) will soon surge more than 18% from its current value, after bouncing off the lower bound of a trading range at around $2,800.
“$3,500: ETH.”
ETH is trading at $2,963 at time of writing, up about 1% on the day.
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Featured Image: Shutterstock/Vink Fan/Natalia Siiatovskaia