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Home»ALTCOIN NEWS»Glassnode co-founder analyzes Bitcoin’s latest innovations and says Solana (SOL) is next.
ALTCOIN NEWS

Glassnode co-founder analyzes Bitcoin’s latest innovations and says Solana (SOL) is next.

By Crypto FlexsDecember 12, 20242 Mins Read
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Glassnode co-founder analyzes Bitcoin’s latest innovations and says Solana (SOL) is next.
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The two founders behind a leading blockchain data company are finding out what helped Bitcoin (BTC)’s most recent venture push past $100,000.

According to Glassnode co-founders Jan Happel and Yann Allemann, the inflation data sparked a BTC rally above $100,000 this week.

“Bitcoin surges back above $100,000 as inflation data meets expectations!

Next steps:

  1. We turn $102,000 into support, breaking the price compression below this area.
  2. A loss of $100,000 could lead to a retest of the $97,200-$98,500 support level, in line with the bottom of the ascending channel.
  3. A daily close above $102,000 will target $104,000, and eventually the upper channel will be at $108,000.

Will Bitcoin’s breakthrough lead to a retreat?”

Source: Negentropy/X

As of this writing, BTC is trading at $101,604, up 7% over the past two weeks.

Moving on to top Ethereum rival Solana (SOL), Happel and Allemann say SOL is also eyeing a massive rally.

“SOL is looking for a breakout.

SOL hit the indicated area and rebounded towards $230. A break above $235 on the daily period could break the price compression with a target of the previous high of $264.

Main signals:

The daily RSI (Relative Strength Indicator) is neutral and far from overbought territory, favoring the upside.

As SOL launches, keep an eye on ecosystem tokens JUP and WIF for potential momentum.

Can SOL reach new heights?”

Source: Negentropy/X

SOL is worth $230 at the time of this writing and is up 0.3% on the day.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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