A closely followed crypto strategist believes that one Ethereum (ETH) competitor may have reached a local bottom amid a broad market sell-off.
Pseudonymous analyst Inmortal tells his 231,100 followers on the social media platform X that Solana (SOL) may be presenting a rare buying opportunity after hitting the 24-hour low of $112.
“SOL: feels like a generational entry.”
Looking at his chart, the trader suggests SOL is printing a similar pattern from 2021, when SOL dipped more than 60% from its local top before putting up massive gains.
SOL is trading for $116 at time of writing, down 1.8% in the last 24 hours.
Next up, the analyst suggests that Bitcoin (BTC) is on the verge of breaking out and may reclaim the $100,000 level as support by next month.
“Maybe this dream [will] come true, just maybe.”
Bitcoin is trading for $82,719 at time of writing, flat on the day.
The analyst is also turning bullish on FLOKI (FLOKI) as the memecoin bounces off of lows not seen since more than a year ago.
“Floki at pre-bull market levels is crazy. Added some spot here, see you in a few months.”
FLOKI is trading for $0.00005453 at time of writing, down 1.8% in the last 24 hours.
Lastly, the analyst says that ETH may be on the verge of a bullish reversal based on historical precedence.
“Expansions lead to retraces. Retraces lead to bounces. Bounce soon.”
ETH is trading for $1,810 at time of writing, flat on the day.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
