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Home»ALTCOIN NEWS»Analyst Predicts Parabolic Rally After Ethereum Fix, Updates Solana and FLOKI Outlook
ALTCOIN NEWS

Analyst Predicts Parabolic Rally After Ethereum Fix, Updates Solana and FLOKI Outlook

By Crypto FlexsJuly 9, 20242 Mins Read
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Analyst Predicts Parabolic Rally After Ethereum Fix, Updates Solana and FLOKI Outlook
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A prominent crypto strategist predicts that Ethereum (ETH) will surge towards the end of the year due to the current market correction.

Anonymous analyst Inmortal told his 214,800 followers on social media platform X that Ethereum is likely to consolidate between $4,000 and $2,800 in the coming months.

The trader shared a chart suggesting that Ethereum will see a parabolic rally starting in October and continuing throughout the year, ultimately leading ETH to a new all-time high of $8,000.

“Capture this.

“It’s ETH.”

Source: Inmortal/X

At the time of writing, Ethereum was valued at $2,903, down more than 4% on the day.

Looking at Ethereum competitor Solana (SOL), Inmortal believes the large altcoin is at risk of a significant downside unless it breaks above $160 and forms a bullish upper high.

“Bulls are defending the $120 level and taking no prisoners. I don’t want to see a bouncing ball structure developing. Higher highs are key.”

video
Source: Inmortal/X

As of this writing, SOL is trading at $130, down more than 8% from the previous day.

In the case of the meme token FLOKI, the trader believes the altcoin is in a bullish phase similar to the one it briefly traded below support at $0.00016 in April 2024 before bouncing back.

“FLOKI is trying to print the famous deviation + retest structure.”

video
Source: Inmortal/X

At the time of writing, FLOKI is valued at $0.000135, down more than 10% over the past day.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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