A closely watched cryptocurrency strategist and trader believes one Ethereum (ETH) competitor is preparing for a breakout.
Household analyst Inmortal told his 223,100 followers on social media platform
“If you ask me, my SOL is starting to get better again. “What we need now is a higher high (price) to confirm a breakout of MS (market structure).”
Looking at his chart, the trader suggested that SOL would surge to $240, then bounce back to around $210, before resuming its upward trend to its all-time high of $263.
At the time of writing, Solana is trading at $219, up 4.7% in the last 24 hours.
Next, traders are weighing Bitcoin after BTC regained the $100,000 range this week after adjusting to $89,000 on Monday.
“Are you saying it’s as easy as waiting?”
Looking at his charts, the trader suggested that Bitcoin could surge to $127,000 in February after falling as low as $95,000 on the 8-hour chart later this month.
Bitcoin is trading at $104,569 at the time of writing, up 5% in the last 24 hours.
Finally, the analyst says Bitcoin Layer 2 project Stack (STX) may have been witnessing a swing failure pattern (SFP) after rebounding from $1.40 on the daily chart.
SFP is often sought out by traders as a potential reversal point.
“You don’t have to be a genius to realize that the STX charts have bottomed. SFP + Demand Test + (Inverse Head and Shoulders Pattern). It may take some time, but it’s a promising setup for me.”
Looking at his chart, he suggests STX could surge to around $2.80.
STX is trading at $1.68 at the time of this writing, up 7.9% in the last 24 hours.
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