One cryptocurrency trader believes smart contract platform Solana (SOL) has yet to bounce back.
Household analyst The Flow Horse told his 191,100 followers on social media platform X that Solana bulls continue to accumulate SOL regardless of the price.
With heavy buying activity, top traders believe SOL is gearing up for another rally.
“Non-stop consistent taker activity on SOL everywhere. This is grinding for pop. I think $80 is a reasonable next target.”
The analyst also says Solana appears to be bouncing back whenever it hits a key trend indicator on the 4-hour chart.
“SOL seems ready for another, higher attempt.
Respecting the single standard deviation band volume weighted average price (VWAP) of the trend, it has been very clean so far.”
As of this writing, SOL is trading at $73.24.
Looking at decentralized oracle network Chainlink, analysts believe LINK is poised for a breakthrough rally after about a month of consolidation.
“Right now, several coins have broken outright in a month-long consolidation that is not the result of outright short selling.
LINK is one.”
The analyst also says that LINK is currently accumulating in anticipation of an upside.
“After reducing most of my altcoin futures positions overall and still holding my shared spot portfolio, I am adding more LINK to it in anticipation of another development.
“I’m glad I filled in more for the weekend.”
As of this writing, LINK is worth $16.40.
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