A recent surge in Bitcoin has invigorated the market, coinciding with an announcement about the impending start of spot Ethereum ETFs trading. As interest in cryptocurrencies persists, analysts continue to provide their insights. A prominent analyst has pointed out that Solana (SOL) is exhibiting a pattern similar to one observed three years ago.
What About Solana’s Prospects?
Inmortal, a well-known commentator in the crypto community, made notable remarks on X. He highlighted that after a setback earlier in 2023, Solana briefly surged past $200 and established a series of bullish higher-lows on the two-day chart.
According to the analyst’s review, Solana witnessed remarkable price action in the second and third quarters of 2021, climbing from $24 to a peak of $259, an increase of over 979%. The analyst suggests that a similar trend might be emerging for SOL.
Is BEAM Set to Surge?
The analyst also discussed the gaming-focused altcoin Beam (BEAM). He shared a chart indicating that BEAM could rise above $0.03 after securing $0.016 as a support level. At the time of writing, BEAM’s price had risen to $0.01801, a 5.32% increase in the last 24 hours, suggesting alignment with the analyst’s predictions.
Key Insights for Investors
Analysts’ predictions offer actionable insights for investors:
- Solana could potentially reach a new high of $500.
- Beam may rise above $0.03 if current support holds.
- TokenFI shows bullish signs after surpassing $0.08.
These insights can guide investment strategies and help in making informed decisions.
Conclusion
As the cryptocurrency market remains dynamic, analysts continue to share their predictions. Solana, Beam, and TokenFI are currently under the spotlight with potential bullish movements. Investors should closely monitor these cryptocurrencies for future opportunities.