Renowned cryptocurrency expert DonAlt has some exciting insights into the crypto world. He thinks that Solana ( $SOL ), a strong rival to Ethereum ($ETH), is getting ready for a major breakthrough. Plus, he's keeping a close eye on Chainlink ($LINK), and there's good news for Bitcoin ($BTC) fans as well.
DonAlt's Positive Outlook on SOL
DonAlt, a crypto pro who prefers to keep his identity hidden, recently shared his thoughts on Solana (SOL) in a YouTube video. He believes that SOL is about to break through a crucial resistance level. But here's the catch: this upward move depends on SOL maintaining its support levels, especially after Bitcoin's significant price surge. DonAlt explains:
"SOL is knocking on the door at the $32.88 mark when paired with the US dollar. As long as Bitcoin keeps performing well, I think SOL/USD is poised for a big breakout, just like LINK did. The SOL/USD trading pair is looking quite promising, with a pattern of consistently higher lows."
In his weekly price chart, DonAlt demonstrates that Solana has been reaching higher price points, with the latest being around $18. He also highlights that Solana is following an upward trend on a monthly basis, saying:
"If you look at the monthly chart, it's looking pretty good. There's a strong upward movement, a consolidation phase, and now we're seeing a second upward movement. I'm liking this chart a lot. If I had to pick two altcoins to invest in right now, it would be SOL and LINK."
Bitcoin's Potential Journey to $60,000
But DonAlt doesn't stop there; he also has some interesting insights about Bitcoin. According to his analysis, BTC's price movement could resemble what we saw in 2018, and he believes it might be on the verge of hitting $60,000:
"If it breaks above $35,028, I believe the next target is $60,000. Comparing it to 2018, we had a period of consolidation followed by a price drop. It was a somewhat longer drop, but the pattern was quite similar. People attempted to short the retest, but things didn't go as planned, and the price shot up into the higher range that I've outlined here.
So, if history repeats itself, we could be in a higher price range in two months. It's a bit unlikely, but not impossible. If there's positive news about ETFs, it might become a reality. However, there's currently strong resistance at higher timeframes."
In simple terms, DonAlt is optimistic about both Solana and Bitcoin, with the potential for significant growth in the near future. However, as with all investments, there are risks involved, and it's crucial to keep an eye on market developments and do your own research before making any decisions.
