Will Solana Experience a 210% Boom?
A widely followed cryptocurrency analyst, known as "Inmortal," believes that Solana (SOL) may be repeating a pattern observed three years ago before it reached its all-time high.
He shared with his 214,700 followers on the social media platform X that Solana appears to be showing a series of higher highs and higher lows on the two-day chart.
This observation comes after $SOL briefly surged above $200 earlier this year. According to Inmortal, the cryptocurrency SOL displayed the same pattern between the second and third quarters of 2021, shortly before it initiated a parabolic surge from $24 to its all-time high of $259, representing an increase of over 979%.
He stated: “Time is a flat circle. SOL,” suggesting that SOL could be on its way to a new record of around $500.
Current Altcoin Situation
At the time of writing, the SOL token is priced at $163. Therefore, if the forecast materializes, Solana will record a 210% increase.
It is worth noting that Solana has risen nearly 3% in the last 24 hours and about 13% in the last 7 days. The surge comes amid a broader recovery in the crypto market.
In addition to Solana, the analyst also expressed optimism about $BEAMX (Beam), a gaming-focused altcoin. He shared a chart suggesting that BEAM will rise above $0.03 after reclaiming support at $0.016. At the time of writing, the BEAM token is priced at $0.0175.
The analyst also commented on the native asset of the TokenFi (TOKEN) protocol, which focuses on the tokenization of real-world assets (RWA). He believes the altcoin is exhibiting a bullish setup after reclaiming support at $0.08.
“If the $ETH ETF gets approved this week, the tokenization/RWA plays should fly, in my opinion. TOKEN is one of my favorites. Price above the key level, deviation setup, leading the sector,” the analyst stated.
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