Analyst Predicts Strong Rally for Leading Altcoin and Meme Coin, Ethereum, FLOKI, and SOL Analysis
The cryptocurrency market is experiencing a downturn as Bitcoin struggles to break through strong resistance levels. After failing to surpass $70,000, BTC has retreated below $66,000 and is currently consolidating. The altcoin market is also in the red zone, with some exceptions. However, analysts are pointing out some tokens that are showing bullish signals for the future.
One analyst, known as Inmortal, is predicting a strong rally for the leading altcoin, Ethereum, after a recent drop. Despite the current bearish trend, Inmortal suggests that Ethereum will see a 75% jump to its $4,100 target after one last dip. The analyst believes that ETH is a good spot trade at the moment, calling it slower but safer than other options.
Inmortal is also bullish on the meme coin Floki (FLOKI), noting that it is showing bullish-bearish setups and is poised for a breakout. The analyst predicts that FLOKI will jump to $0.00021 from its current trading price of $0.0001415. Additionally, Inmortal is tracking the price action of Solana (SOL), suggesting that it may consolidate before a potential rally, similar to its 2021 price action.
Overall, while the cryptocurrency market is currently facing challenges, analysts like Inmortal are optimistic about the future of certain tokens. It will be interesting to see if these predictions come to fruition as the market continues to evolve.
