- Crypto analyst “Inmortal” predicts a deceptive price drop for Solana (SOL) before it rebounds stronger.
- Chainlink (LINK) is poised for a significant breakout after a long period of accumulation, while Bitcoin (BTC) indicates a beneficial risk-to-reward setup.
In a realm where volatility is the norm, the Ethereum competitor Solana (SOL), has captured the attention of famed crypto analyst “Inmortal.” Alongside the top-tier cryptocurrency Bitcoin (BTC), and the decentralized oracle network Chainlink (LINK), the insights shared by Inmortal promise an intriguing outlook for these digital assets.
Solana: A Deceptive Dip Before a Robust Rebound
The pseudonymous Inmortal, who commands the attention of 195,000 Twitter followers, cautions that Solana is primed for an intense price drop below the $20 mark. According to his forecast, this downturn is merely a temporary setback, or a “fakeout,” before SOL bounces back stronger, projected to cross $30. This apparent paradoxical market movement serves as a reminder that in the cryptoverse, initial trends can often be misleading. At the point of writing, SOL stands at $24.49, seemingly poised for Inmortal’s predicted dramatic fluctuation.
Chainlink: The Promise of a Power Surge Post Accumulation
In the case of Chainlink, the decentralized oracle network has reportedly been operating within a markedly prolonged accumulation zone. Inmortal posits that this extended phase of consolidation for LINK signals a potential enormous breakout on the horizon. Crypto markets often follow a cycle of accumulation before a sizeable price increase, a pattern Inmortal identifies in Chainlink’s market dynamics. LINK is valued at $7.62 at the time of writing, with the analyst’s prediction suggesting a promising future.
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Bitcoin: A Classic Deviation Set-up Unveiled
Turning his analytical gaze onto Bitcoin, the reigning monarch of the crypto domain, Inmortal discerns a “classic deviation setup.” This market behavior is characterized by the price dipping below an identifiable support level, luring bears into short positions, before a reversal back to the support level ensues. Adding to this observation, Inmortal underlines that the current price of Bitcoin offers an appealing risk-to-reward (R:R) proposition, hinting at potential gains. As of now, BTC trades at a value of $29,403, its future market movements anticipated with bated breath by investors worldwide.
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