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Cryptocurrency News Articles
Crypto Analyst Predicts Epic Bull Runs for Bitcoin, Chainlink, and Solana
May 10, 2024 at 08:00 am
Crypto analyst Inmortal predicts Bitcoin (BTC) has potential for significant gains, with 500 more "green days" ahead. Chainlink (LINK) may be consolidating before a breakout, while Ethereum competitor Solana (SOL) is expected to form a bearish trap below $120 before a bull run beyond $230.
Crypto Analyst Predicts Massive Rallies for Bitcoin, Chainlink, and Solana
A renowned crypto trader with a substantial following has issued a bullish forecast, predicting significant upward trajectories for Bitcoin (BTC) and two prominent altcoin projects, Chainlink (LINK) and Solana (SOL).
Bitcoin on the Verge of a Prolonged Bull Run
The anonymous analyst, known as Inmortal, meticulously analyzed historical market cycle data and determined that Bitcoin's current price action suggests ample room for further growth.
"We still have space for 500 additional green days," Inmortal asserted, implying that the market has yet to exhaust its upward momentum.
At the time of writing, Bitcoin is trading at $61,486, experiencing a modest 2.4% decline over the previous 24 hours.
Chainlink's Bullish Breakout Imminent
Inmortal also turned his attention to Chainlink, a decentralized oracle network that provides smart contracts with real-world data. The analyst observed a consolidation pattern in LINK's price history, which he believes often precedes significant price explosions.
"The fascinating aspect of LINK is its cyclical behavior," Inmortal explained. "Extended consolidations are followed by rapid price increases. We are currently in the consolidation phase, indicating that a breakout is imminent."
LINK is currently trading at $13.83, marking a slight 3% decline within the past 24 hours.
Solana Poised for Bullish Surge After Bearish Trap
Finally, Inmortal projected that Solana, a high-performance blockchain platform designed to rival Ethereum, will experience a temporary dip below its ascending trendline on the daily chart. This bearish trap, he predicts, will ultimately propel SOL to unprecedented heights.
"The fastest horse in this market cycle merely requires one additional trap," Inmortal stated.
SOL is currently trading at $141.51, having succumbed to a 6% decline during the past 24 hours.
Inmortal's predictions are based on rigorous technical analysis and an understanding of historical market patterns. While crypto markets remain inherently volatile, his insights provide valuable guidance for investors seeking to navigate this complex and dynamic asset class.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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