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A closely followed trader believes that the layer-1 protocol Solana (SOL) may have just flashed a strong bullish reversal signal.
Pseudonymous trader Inmortal tells his 231,500 followers on the social media platform X that Solana appears to have set a massive bear trap earlier this month when the price of SOL briefly dropped below $100.
A bear trap is a false signal that makes it appear that the price of an asset is heading to much lower levels, but instead, the price abruptly reverses and rallies, leaving short-sellers trapped.
Says Inmortal,
“That weekly candle is maybe the biggest bear trap I’ve ever seen, SOL.”
Source: Inmortal/X
The analyst now believes that SOL is setting the stage for strong rallies en route to a new all-time high of $340 by December 2025.
“In retrospect, it will be so obvious, SOL.”
Source: Inmortal/X
At time of writing, Solana is trading for $128.19, down over 3% on the day.
Looking at Bitcoin, Inmortal thinks that BTC will trade between $74,000 and $95,000 in the coming months before sparking a breakout rally toward the end of the year.
“Expecting something like this:
> Bounce to $90,000
> More chop/ranging ($67,000 maybe)
> Uptrend in the second half of this year
Maybe not in this exact order.
BTC.”
Source: Inmortal/X
Based on the trader’s chart, he appears to suggest that Bitcoin will soar close to $130,000 by the end of 2025. At time of writing, Bitcoin is worth $84,943.
Turning to the memecoin Floki (FLOKI), Inmortal thinks the altcoin is at a price level where it can potentially carve a major cycle bottom.
“Accumulating more FLOKI at these levels.
RSI (relative strength index) is at the same levels it was 700 days ago, and price at pre-bullrun levels.”
Source: Inmortal/X
The RSI is a momentum indicator that can help traders spot levels where an asset is oversold or overbought. At time of writing, FLOKI is worth $0.000057.
