A closely followed analyst thinks Solana (SOL) may be repeating a pattern witnessed three years ago before the smart contract platform surged to its all-time high.
Pseudonymous analyst Inmortal tells his 214,700 followers on the social media platform X that Solana appears to be printing a series of bullish higher-low setups on the two-day chart after briefly soaring above $200 earlier this year.
According to the analyst, SOL flashed the same pattern in Q2 to Q3 of 2021, just before Solana ignited a parabolic surge from $24 to its all-time high of $259, an over 979% increase.
“Time is a flat circle.
SOL.”
Looking at the trader’s chart, he seems to predict that SOL will rally toward a fresh record-high at around $500. At time of writing, SOL is worth $159.
The analyst is also bullish on gaming altcoin Beam (BEAM). The analyst shares a chart suggesting that BEAM will surge above $0.03 after recovering $0.016 as support.
“Shopping day.
BEAM.”
At 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 that the altcoin is currently flashing a bullish setup after reclaiming support at $0.08.
“If they approve ETH ETF this week, tokenization/RWA plays should fly, in my opinion.
TOKEN is one of my favorites.
> Price back above key level
> Deviation setup
> Leading the sector.”
At time of writing, TOKEN is worth $0.0816, up over 13% on the day.
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The post ‘Time Is a Flat Circle’ – Analyst Sees Solana (SOL) Mirroring 2021 Price Action That Led to Nearly 980% Rally appeared first on The Daily Hodl.