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A crypto analyst who nailed the top of the 2021 Bitcoin (BTC) bull market says Solana (SOL) will likely pull back after a big rally.
Pseudonymous analyst Pentoshi tells his 706,400 followers on the social media platform X that Solana could dip by more than 25% from its current value.
“Whether it goes higher, or lower first. I think you’ll get another shot to buy $35-$36 and maybe even $32.”
Solana is trading for $43.05 at time of writing.
The trader also predicts that other surging altcoins will likely see up to 20% pullbacks.
“In regards to alts, many of these will have massive 15-20% pullbacks in due time. And a lot of people are sidelined. Your opportunities will come.”
Next, the trader weighs in on the confidential transaction blockchain project Beam ($BEAM), noting key milestones in the ecosystem.
“$BEAM has already had its first buyback and burn worth $158,000 since the migration. To date 37%+ has been burned and the treasury is up another 2.5 million-plus this month inching closer to the 100 million mark. Expecting at least another million USD to be burned by end-of-year at this pace.”
The trader also says he is bullish on $BEAM.
“Expecting a few solid updates by end-of-year.”
$BEAM is worth $0.00534 at time of writing, up 10.6% in the last 24 hours.
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