Inmortal, a pseudonymous analyst sees Bitcoin trading in the broader range for future six months. By this, he is mapping out the Bitcoin and Solana’s performance for the next year eyeing a close track on their graph.
Crypto analyst Inmortal’s prediction further says that the Bitcoin will rally towards its immediate resistance of $32,500, as captured in the graph above.
“ETH vs SOL”
His next consideration is a smart contract platform called “Solana”. SOL seems to be following Ethereum’s market structure between July 2017 to January 2021, as noted by Inmortal. Meanwhile, ETH printed its previous cycle high of $1,400 before its crash and lost 95% of its value, shattering at the bottom at around $70.
Immortal’s chart says that the crypto analyst’s predictions about SOL’s bottom line at $20 by the end of 2022 before the launch of a new bull market. In the short term, the crypto analyst is bullish on SOL adding that altcoin is doing big from its record high.
“I am buying more SOL here. After a -86% from its all-time high, for me, it’s a lifetime opportunity.”
His chart further explains that SOL has shown a bullish divergence on the daily chart, suggesting the possibility of a short-term trend reversal.