A closely followed analyst thinks Solana (SOL) may be repeating a pattern witnessed three years ago before the smart contract platform surged to its all-time high.

Pseudonymous analyst Inmortal tells his 214,700 followers on the social media platform X that Solana appears to be printing a series of bullish higher-low setups on the two-day chart after briefly soaring above $200 earlier this year.

According to the analyst, SOL flashed the same pattern in Q2 to Q3 of 2021, just before Solana ignited a parabolic surge from $24 to its all-time high of $259, an over 979% increase.

“Time is a flat circle.

SOL.” 

Looking at the trader’s chart, he seems to predict that SOL will rally toward a fresh record-high at around $500. At time of writing, SOL is worth $159.

The analyst is also bullish on gaming altcoin Beam (BEAM). The analyst shares a chart suggesting that BEAM will surge above $0.03 after recovering $0.016 as support.

“Shopping day.

BEAM.” 

At time of writing, BEAM Is trading at $0.0175.

Turning to the native asset of the real world assets (RWA) protocol TokenFi (TOKEN), the analyst thinks that the altcoin is currently flashing a bullish setup after reclaiming support at $0.08.

“If they approve ETH ETF this week, tokenization/RWA plays should fly, in my opinion. 

TOKEN is one of my favorites.

> Price back above key level
> Deviation setup
> Leading the sector.” 

At time of writing, TOKEN is worth $0.0816, up over 13% on the day.

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Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are positioned on PC motherboard on this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration

NEW YORK, Nov 22 (Reuters) – Cyrptocurrency merchandise and funds posted inflows within the newest week, with buyers undeterred by the newest value corrections, weekly information from digital asset supervisor CoinShares confirmed on Monday.

Institutional buyers poured in $154 million within the crypto sector within the week ended Nov. 19, with a year-to-date complete of $9.2 billion, already exceeding complete inflows of $6.7 billion in 2020.

Bitcoin bought the lion’s share of inflows with $114.4 million, equal to 74% of the whole. To date this 12 months, complete inflows into bitcoin merchandise and funds hit $6.7 billion.

The inflows got here regardless of a ten.4% drop in bitcoin final week. On Monday, bitcoin was down 4.5% at $56,042 . The world’s largest cryptocurrency hit a report excessive of $69,000 on Nov. 10.

“Bitcoin was ripe for a pullback and it may not be over but earlier than merchants confidently really feel a backside has been made,” stated Edward Moya, senior market analyst at OANDA in New York.

Blockchain information supplier Glassnode, in its newest analysis report on Monday, stated bitcoin holders took income after it hit a report excessive earlier this month.

“Spikes in on-chain profit-taking throughout bullish impulses are to be anticipated as value climbs to new highs, and are typical for any bull market. As the conclusion of income enhance, so too does the chance of creating a macro high,” Glassnode stated.

Ethereum noticed inflows for a fourth straight week, of $12.6 million. Whole inflows within the final 4 weeks have been about $80 million.

Some altcoins although, for the primary time in lots of months, noticed minor outflows, equivalent to Cardano, with outflows of $2.1 million, information confirmed.

However inflows into Solana, one other public blockchain, totaled $8 million. By measure of complete inflows during the last month, Solana has seen inflows of $43 million during the last month versus Cardano’s $23 million.

Property underneath administration at Grayscale and CoinShares, the 2 largest digital asset managers, have been at $51.62 billion and $6.5 billion, respectively.

Reporting by Gertrude Chavez-Dreyfuss; Enhancing by Richard Chang

Our Requirements: The Thomson Reuters Belief Ideas.