The cryptocurrency market is buzzing following statements from renowned analyst Inmortal. In his latest forecasts, he highlighted the potential for significant changes for Ethereum and Solana.
Potential Rise for Ethereum
Inmortal asserts that Ethereum (ETH) has good prospects for a significant rally in the near future. He drew a parallel between Ethereum's current three-day chart and past market movements reminiscent of early 2020 patterns. The analyst recalled that five years ago, Ethereum's price fluctuated between $100 and $200 before it plunged to $86, which preceded a massive rally that led to its historic peak of $4,868. Inmortal suggests that this historical trajectory may repeat itself, indicating that similar price patterns could emerge in the current market.
Solana May Reach New Heights
Turning to Solana (SOL), Inmortal noted that the cryptocurrency might experience a temporary stagnation in the upcoming weeks. Despite this, he anticipates the initiation of a fresh upward trend that could elevate Solana to $320. Currently valued at $165, surpassing the critical $180 threshold could potentially trigger new record highs, according to Inmortal's analysis.
Cryptocurrency Market and Investment Advice
Inmortal also expresses a long-term optimistic outlook for Bitcoin (BTC), predicting record prices between $102,000 and $120,000. It is essential to recognize that these predictions remain speculative, and market participants are encouraged to conduct their own analyses before making investment decisions. Technical analysis and historical price movements serve as the foundation for Inmortal’s insights; however, the intrinsic volatility of cryptocurrency markets necessitates readiness for rapid fluctuations.
Inmortal's forecasts highlight potential shifts in the cryptocurrency market. Nevertheless, participants are advised to remain vigilant and conduct thorough market analysis before taking any action.
