A widely followed analyst in the cryptocurrency space known as "Inmortal" believes that Solana (SOL) may be repeating a pattern observed three years ago, before reaching its all-time peak.
He shared with his 214,700 followers on social media platform X that Solana appears to be exhibiting a series of rising highs and lows on the two-day chart.
This comes after $SOL briefly rose above $200 earlier this year. According to Inmortal, the SOL cryptocurrency demonstrated the same pattern between the second and third quarter of 2021, just before starting a parabolic surge from $24 to its all-time high of $259, representing an increase of over 979% .
According to him: “Time is a flat circle. SOL,” suggesting that SOL could be on track for a new all-time high around $500.
Current Situation of Altcoins
At the time of writing this article, the SOL token is priced at $163. Therefore, if the prediction comes true, Solana will see an increase of 210%.
It is worth noting that Solana is up almost 3% in the last 24 hours and around 13% in the last 7 days. The rise comes amid a broader recovery in the crypto market.
In addition to Solana, the analyst also expressed optimism regarding $BEAMX (BEAM), a gaming-focused altcoin. He shared a chart suggesting BEAM will rise above $0.03 after reclaiming support at $0.016. At the time of writing this article, the BEAM token is costing US$0.0175.
The analyst also commented on the TokenFi protocol's native asset (TOKEN), which is focused on the tokenization of real-world assets (RWA). He believes the altcoin is exhibiting a bullish setup after reclaiming support at $0.08.
“If they approve the $ETH ETF this week, the tokenization/RWA plays should fly in my opinion. TOKEN is one of my favorites. Price above key level, deviation configuration, leading the sector”, stated the analyst.