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Known by the pseudonym Inmortal, the experienced cryptocurrency analyst shared his latest views on potential price movements in the cryptocurrency market with his followers on the social media platform X. According to Inmortal, Bitcoin (BTC) and the leading two altcoin projects are showing signs of preparing for significant rallies.
Bitcoin Maintains Its Optimism
In his latest market analysis, Inmortal emphasized Bitcoin’s historical market cycles to support his bullish outlook. The analyst remains optimistic about the direction of the largest cryptocurrency despite its recent poor performance.
The analyst, asserting that Bitcoin still has significant upside potential, claimed that a rising trend lasting days is possible, stating “we have room for 500 more green days.”
The largest cryptocurrency was trading at $62,868, up 1.95% in the last 24 hours at the time this article was prepared.
Expecting Strong Breakouts from Chainlink and Ethereum
Following Bitcoin, Inmortal moved on to the altcoin market, describing Chainlink (LINK) as a project at the peak of a potential breakout. By analyzing past price patterns, he noted that LINK is in a consolidation phase. He commented on the altcoin, “The most interesting thing about LINK is how it works. Long consolidation phases. Quick rallies. We are not in the latter, so we must be in the former.” LINK was trading at $14.27, up 1.57% in the last 24 hours.
Inmortal also shared his latest observations for Solana (SOL), a competitor to Ethereum (ETH), predicting a significant rally wave for the altcoin after a short-term decline. He expects SOL to create a drop trap in the $120 range before starting a rally exceeding $230, having dipped below the rising trend line on the daily chart.
The analyst concluded his assessment of SOL, which was trading at $153.58, up 5.90% in the last 24 hours, by stating, “The fastest horse in the cycle just needs one more trap to fall.”
