A cryptocurrency strategist who follows closely believes Layer 1 rivals Ethereum (ETH) and Solana (SOL) are poised to rebound towards new all-time highs.
Household analyst Inmortal told his 217,500 followers on social media platform X that he believes Ethereum is in for a brief consolidation period before rising to new record highs.
A trader shares a chart that suggests Ethereum will eventually break through to $5,000.
“Simple structure, simple transaction, simple life.”
According to the trader’s chart, he seems to suggest that ETH has formed a solid base below $2,800, which is now serving as the basis for a new uptrend.
As of this writing, ETH is trading at $3,113, down more than 36% from its all-time high of $4,878.
Looking at Solana, Inmortal believes that SOL is poised to hit new all-time highs now that it has broken out of its symmetrical triangle structure, a technical analysis structure traditionally seen as a bullish continuation pattern.
“Sending (Solana) to a new ATH (all-time high).”
As of this writing, SOL is trading at $235, down about 9% from its all-time high of $259.96.
Traders are also bullish on meme token Floki (FLOKI). Inmortal predicts that FLOKI is poised to rebound to $0.00035 after clearing resistance at $0.00024.
“A person who achieves outstanding results.
Floki.”
As of this writing, FLOKI is worth $0.000256.
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