A closely followed crypto trader believes that smart contract platform Solana (SOL) is not done rising yet.
Pseudonymous analyst The Flow Horse tells his 191,100 followers on social media platform X that Solana bulls will continue to collect SOL regardless of price.
Due to the heavy buying activity, the top trader believes that SOL is preparing for the next step up.
“Just non-stop consistent taker activity for SOL across all locations. This is a banger for a doll. I think $80 is a reasonable next goal.”
The analyst also says that Solana seems to bounce every time it hits a major trend indicator on the four-hour chart.
“SOL seems ready for another attempt higher.
Very clean so far, respecting the one standard deviation volume weighted average price (VWAP) of the trend.”
At the time of writing, SOL is trading at $73.24.
Looking at decentralized oracle network Chainlink, the analyst thinks LINK appears poised for a breakout rally after about a month of consolidation.
“A few coins that are clearly coming out of months of consolidations and not as a result of exhaustive short squeezes right now.
LINK is one.”
The analyst also says he is currently stocking LINK in anticipation of a breakout to the upside.
“After reducing most altcoin futures positions across the board and still being long the spot portfolio I shared, I’m adding more LINK here in anticipation of another move higher.
I’m glad I’m getting more refills this weekend.”
At the time of writing, LINK is worth $16.40.
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