The recent rise in Bitcoin has brought activity to the market, and an important announcement was made about when spot Ethereum ETFs will start trading. Following this, BTC price repeatedly surpassed $65,000 but pulled back each time. As the activity in cryptocurrencies continues, analysts keep sharing their comments one after another. A well-known analyst notes that Solana (SOL) is moving similarly to a model it presented three years ago.
Solana Comments
Inmortal, a well-known figure in the crypto world, drew all attention with his statements on X. He noted that after the fiasco seen at the beginning of 2023, Solana briefly rose above $200 in the early months of this year and formed a series of higher-low bullish formations on the two-day chart.
According to the analyst’s review, SOL experienced incredible price movement in the 2nd and 3rd quarters of 2021. Solana’s price rose from $24 to an all-time high of $259. This process marked an increase of over 979%, and the analyst commented that a similar chart pattern is forming for SOL.
Time is a flat circle. SOL.
The analyst’s review indicates that SOL could reach a new peak at $500. At the time of writing, SOL was trading at $160.26, marking a 2.72% increase in the last 24 hours.
BEAM and Token Comments
The analyst also made significant statements about the gaming-based altcoin Beam (BEAM). He shared a chart indicating that BEAM would move above $0.03 after securing $0.016 as a support level.
Shopping day. BEAM.
At the time of writing, BEAM’s price had risen to $0.01801, a 5.32% increase in the last 24 hours, indicating that it was trading above the mentioned support level and possibly moving in line with the analyst’s prediction.
How Much is TOKEN?
Real-world assets (RWA) have become more talked about in the market, especially after BlackRock’s move. An analyst reviewing the TokenFI (TOKEN) project, a significant part of RWAs, commented that a bullish outlook emerged in the market after surpassing the support level at $0.08.
If they approve the ETH ETF this week, I think tokenization/RWA plays should soar. TOKEN is one of my favorites.
> Price returned above the key level.
> Deviation setting.
> Leading the sector.
Looking at the TokenFI (TOKEN) price, it seems to be progressing as the analyst suggested. The start date for the Ethereum ETF was announced as July 23, and the price is trading above $0.08 at $0.08084.
