Crypto Trader Reveals Significant Price Target for Solana, Identifying SOL as a Generational Opportunity for Bulls
A highly regarded crypto analyst suggests that the smart contract platform Solana (SOL) is poised for a robust bull market.
Pseudonymous analyst Inmortal, addressing his 199,100 followers on the social media platform X, indicates that Solana is providing a significant opportunity for long-term bulls to accumulate the crypto asset at a point of maximum opportunity.
"This is a generational SOL long. Take profit is $250."
According to the crypto strategist, those who accumulate SOL now may reap significant rewards in the coming years.
"In two years, you will realize that everything was as simple as buying SOL below $20 and waiting. But you were too scared because FTX was going to dump their coins."
Last month, court documents revealed that FTX owns $1.16 billion worth of SOL, leading many traders to speculate that Solana might experience lower prices if the bankrupt crypto exchange decides to liquidate its holdings. However, investor Chris Burniske highlighted that only a fraction of FTX’s SOL holdings are liquid, stating, "Only ~13% of FTX’s SOL holdings are liquid… Keep a cool head, folks."
As of the current writing, SOL is trading at $24.54, reflecting a more than 14% increase in the last 24 hours.
Inmortal observes that Solana's recent rally serves as an indication of how SOL is likely to perform in the next couple of years.
"This move up is just a sample of how SOL will move in the coming years. The most hated rally ever."
Oct 03, 2023
