A closely watched analyst thinks Solana (SOL) may be repeating a pattern observed three years ago before the smart contract platform soared to its all-time high.
Pseudonymous analyst Inmortal tells his 214,700 followers on social media platform
According to the analyst, SOL showed the same pattern in the second and third quarters of 2021, just before Solana sparked a parabolic rise from $24 to an all-time high of $259, an increase of more than 979%.
“Time is a flat circle.
SOL.”
Looking at the trader’s chart, he seems to predict that the SOL will rise to a new all-time high around $500. At the time of writing, SOL is worth $159.
The analyst is also bullish on gaming altcoin Beam (BEAM). The analyst shares a chart that suggests BEAM will rise above $0.03 after a recovery from $0.016 as support.
“Shopping day.
RAY.”
At the time of writing, BEAM is trading at $0.0175.
Turning to the native asset of the Real World Assets (RWA) protocol TokenFi (TOKEN), the analyst thinks the altcoin is currently showing a bullish setup after regaining support at $0.08.
“If they approve ETH ETF this week, tokenization/RWA plays should take off in my opinion.
TOKEN is one of my favorites.
> Price above key level again
> Set deviation
> Industry leading.”
At the time of writing, TOKEN is worth $0.0816, up over 13% on the day.
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Generated image: Midjourney