A market analyst has shared in-depth observations on the future trajectories of Solana (SOL), Avalanche (AVAX), and the meme coin Floki (FLOKI). The analyst highlighted significant price movements and potential growth patterns for these cryptocurrencies, which have captured the interest of investors. Both Solana and AVAX, known for their close association with Ethereum, have shown promising signs of upward trends.
What Do the Charts Reveal?
The analyst, known as Inmortal, discussed Solana’s potential to join upcoming market rallies. According to Inmortal, AVAX seems to mimic Solana’s price movements. Charts shared on social media platforms depict SOL and AVAX exhibiting similar trends, suggesting synchronized price behaviors. The analyst emphasized that AVAX is primed for a surge, targeting a price of $42 after surpassing the crucial $27 support level.
As of the latest data, AVAX trades at $30.43, experiencing a drop of over 5% within 24 hours. Its market capitalization stands at $11.9 billion, and trading volume has decreased by 44% to $488 million.
Can Solana Reach New Heights?
The analyst also provided insights on Solana, projecting a potential breakthrough of its current resistance level, potentially reaching $260 by September. Currently, Solana is priced at $175.14 after a 2% decline. The market cap for SOL is approximately $81 billion, with a trading volume of $2.87 billion. The analyst is optimistic about Solana’s ability to outperform both Bitcoin and Ethereum, predicting a new all-time high by the end of the summer.
Key Takeaways for Investors
Key points for investors to consider based on the analyst’s insights:
- AVAX is expected to reach $42 if it can stay above the $27 support level.
- Solana might hit $260 by September, potentially surpassing previous all-time highs.
- Floki shows accelerated movement, with a target of $0.00028 soon.
Floki Price Predictions
Inmortal also analyzed Floki (FLOKI), a meme coin contending with Dogecoin. The analysis revealed that Floki’s price could climb to $0.00028 by next month. Currently, FLOKI stands at $0.000186 after a 6% drop, although it has seen a 0.69% rise over the past week.