The cryptanalyst told what he expects from Ethereum’s competitor Solana (SOL) and its first NFT mobile game, STEPN (GMT), as the cryptocurrency market continues to fall.
What awaits Solana (SOL) in the coming days?
Speaking at the strategic session, DonAlt warned the owners of the Solana smart contract platform that SOL is showing a bearish trend on the charts of higher timeframes after the weekly support of $ 140 turned into resistance.
According to DonAlt, the price behavior indicates that SOL is at risk of losing half of its value. The well-known analyst made the following statements in continuation of his statements about SOL;
It looks like Solana will do the same as altcoins in 2018. You have the perfect bearish retest… and then if you switch to the weekly [chart], you’ll realize that the next support you have is $47, which is 50% lower. It’s the closest support I have, and then it gets scary.
According to CoinMarketCap, at the time of writing, the popular altcoin Solana (SOL) continues to trade at $73, down 5.23% over the past 24 hours.
GMT is waiting for a period of wild volatility
Another cryptocurrency in the field of view of the leading analyst is STEPN (GMT), the move2earn project, which has demonstrated parabolic rallies in recent weeks and has since adjusted significantly.
A well-known cryptocurrency analyst, DonAlt, expects GMT to experience a period of wild volatility next week, which will provide bulls with huge buying opportunities.
DonAlt made the following statements in his statements;
To be honest, I see [GMT] closing at this level this weekend. It would be a really good deal if you closed where we are now at $2.40, maybe $2.25, and then dropped to $1.50 or $1.00 next week.
I think if you take this big wick and see Bitcoin approaching support, you’ll want to buy it. And right after that we see a slight increase from 2x to 3x.
According to CoinMarketCap, at the time of writing, STEPN (GMT) continues to trade at $2.63, which is 0.76% more over the past 24 hours.