- The cryptocurrency market continues to falter as Bitcoin struggles to retain its momentum above $62,000, with altcoins also striving to maintain their critical supports.
- Amid increasing regulatory pressures, the market’s direction remains uncertain, however, analysts recommend preparing for what lies ahead.
- In this context, a widely-followed analyst suggests that we have witnessed the last major correction for SOL and predicts rallies for three meme coins and one altcoin.
As Bitcoin battles to hold onto $62,000, a top analyst predicts a rally for SOL and three meme coins, providing a fresh perspective on the crypto market’s direction.
Analyst Targets $320 for SOL!
As the market struggles to progress, cryptocurrencies are swinging back and forth in the absence of new catalysts and Bitcoin’s lost momentum. While some analysts predict continued selling, others are expecting bullish moves. Analyst Inmortal suggests that SOL bulls have successfully defended support around $120. The analyst shares a chart suggesting that the leading altcoin competitor is now ready to rise to a new 2024 peak of $320. At the time of writing, SOL was trading at $147, down 3% on the day. This implies a potential rise of approximately 110% if the altcoin price reaches the analyst’s target.
“If SOL Rises, FLOKI, DOGE, PEPE Will Also Rise!”
The analyst also predicts rises for three meme coins alongside Solana. Inmortal is closely monitoring Floki (FLOKI), which he says has entered a bullish phase after retesting the 200 moving average (MA) and reclaiming support at $0.00015. The analyst predicts that FLOKI will drop to around $0.00017 before rising to $0.00025 later this month. Inmortal states, “If SOL rises, FLOKI, DOGE, PEPE will also rise. I’m particularly interested in FLOKI.”
90% Increase Forecast for This Altcoin on the Radar
Another altcoin on the analyst’s radar is Seedify.Fund (SFUND), a launchpad and incubator specializing in Blockchain games. According to the analyst, SFUND is currently in the process of solidifying the $2.60 level as support. The analyst says, “It’s retesting the 578-day accumulation for the second time. Certainly, you don’t see this every day.” According to his chart, the analyst predicts that SFUND will rise to $6 in the coming months. At the time of writing, SFUND was trading at $2.63, implying an increase of over 90% if the prediction is accurate.
Conclusion
While the crypto market’s direction remains uncertain amid regulatory pressures and Bitcoin’s struggle to maintain momentum, some analysts predict potential rallies for certain altcoins. SOL, FLOKI, DOGE, PEPE, and SFUND are among the coins expected to see significant gains, providing investors with potential opportunities in the volatile market.
