Solana’s Rally Potential
A closely followed crypto trader, known as The Flow Horse, is optimistic about the future of the smart contract platform Solana (SOL). The pseudonymous analyst, with a following of 191,100 on the social media platform X, notes that Solana bulls continue to accumulate SOL regardless of its current price.
Amidst heavy buying activity, The Flow Horse suggests that SOL is gearing up for another significant upward movement. According to the trader, “Just non-stop consistent taker activity for SOL across all venues. This is grinding up for a pop. I think $80 is a reasonable next target.”
The analyst observes that Solana consistently bounces every time it hits a key trend indicator on the four-hour chart, stating, “SOL looks ready for another attempt higher. Very clean so far, respecting the one standard deviation band volume-weighted average price (VWAP) of the trend.”
As of the latest update, SOL is currently trading at $73.24.
Chainlink’s Breakout Anticipation
Turning attention to the decentralized oracle network Chainlink, The Flow Horse sees potential for a breakout rally after a month-long consolidation period. According to the analyst, “A few coins breaking cleanly out of month-long consolidations and not as the result of exhaustive short squeezes right now. LINK is one.”
The analyst also reveals ongoing accumulation of LINK in anticipation of an upward surge, stating, “After reducing most altcoin futures positions across the board and still long the spot portfolio I shared, I am adding more LINK here in anticipation of another leg up. Happy to get more fills over the weekend.”
As of the latest update, LINK is valued at $16.40.
