Popular crypto analyst named Inmortal explains his long-term price target for Solana (SOL), an Ethereum (ETH) rival altcoin. The analyst also predicts fluctuations in the price of Avalanche (AVAX) and Terra (LUNA).
Bull signal in Solana, AVAX and LUNA
Crypto analyst named Inmortal, who is widely followed in the market, shared price predictions for 3 popular altcoins with his Twitter followers. Inmortal says it expects decentralized finance payments network LUNA to bounce back to triple digits after respecting around $80 support. LUNA is trading at $94.91 at the time of writing. Here is the analyst’s comment on LUNA:
LUNA will be $100 in the blink of an eye.
Inmortal also announced that it is bullish on its other Ethereum competitor and smart contract protocol Avalanche. According to the crypto trader, Avalanche will likely follow in the footsteps of LUNA. As for Solana (SOL), the crypto strategist believes the smart contract platform could potentially rise above 830 percent from its current $107 price. The analyst states that someone who buys SOL at $100 can sell it for over a thousand dollars.
What levels to watch in Bitcoin?
The crypto strategist who studies Bitcoin price said he expects BTC to rally this week after regaining the key $40,000 price level. For this week, Inmortal states that upon retracing the weekly open, it will need to extend its BTC positions, if the price fails to do so, it will go short. According to the analyst, those who unleashed Bitcoin over the weekend with BTC trading below $40,000 are now trapped and will likely have to buy BTC to cut their losses. As we mentioned earlier as
Kriptokoin.com, traders who short sell Bitcoin borrow BTC from an exchange and sell it at a certain price. They hope that prices will fall so that they can make a profit by repaying the BTC they owe at lower prices. If the price moves against their trend, they have to buy BTC at higher prices to pay back the exchange, which supports the rally.
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