Market Analyst Predicts Solana’s Impending Surge, Forecasts Bitcoin to Hit $60,000 Mark

Experienced Analyst Highlights Solana’s Impending Breakout

Renowned cryptocurrency analyst and trader DonAlt has shared insights into the market, indicating that Solana (SOL), often considered Ethereum’s biggest competitor, is poised for a significant breakout following its initial rally. DonAlt also expressed optimism about Chainlink (LINK), another promising cryptocurrency. Additionally, the analyst suggested a bullish outlook for Bitcoin (BTC), predicting a potential rise to $60,000.

Analyst’s Bullish Outlook on SOL

In a recent YouTube video, anonymous analyst DonAlt noted that Solana (SOL) appears likely to overcome a crucial resistance level. However, the analyst emphasized that SOL’s upward movement hinges on maintaining support levels after Bitcoin’s major surge. DonAlt commented:

“Solana is once again approaching the $32.98 level against the US dollar. As long as Bitcoin maintains its position, I anticipate SOL/USD making a substantial breakout similar to LINK’s performance. The SOL/USD trading pair exhibits promising trends, consistently establishing higher lows.”

The analyst shared a weekly price chart illustrating Solana’s recent highs, reaching around $18. Additionally, DonAlt highlighted Solana’s uptrend on the monthly timeframe, stating:

“The monthly timeframe indicates a positive trend. An impulse movement was followed by a consolidation period, and now we are witnessing a second impulse movement. I find this chart favorable. If I were to invest in two altcoins right now, it would be SOL and LINK.”

Bitcoin Could Reach $60,000

DonAlt made a significant observation regarding Bitcoin’s potential trajectory. The analyst suggested that BTC’s price movement might mirror the pattern observed in 2018, indicating a potential rise to $60,000:

“If Bitcoin surpasses the $35,028 mark, the next target could be $60,000. Drawing a parallel to 2018, there was a consolidation period followed by a crash. Although the previous crash was slightly longer, the overall pattern was similar. If historical trends continue, we might enter a high range within two months. While this outcome seems unlikely, it remains a possibility. Positive ETF news could facilitate this scenario, but strong high timeframe resistance currently challenges the price.”

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