Glassnode Co-Founders Break Down Bitcoin’s Latest Breakthrough, Say Solana (SOL) Is Next

The two founders behind a leading blockchain data firm are diving into what has fueled Bitcoin’s (BTC) most recent venture past $100,000.

According to Glassnode co-founders Jan Happel and Yann Allemann, inflation data sparked this week’s BTC rally to over $100,000.

“With inflation data meeting expectations, Bitcoin has surged back above $100,000!

Next steps:

1. Flip $102,000 into support, breaking the price compression below this zone.
2. A loss of $100,000 could lead to a retest of the $97,200–$98,500 support, aligning with the lower end of the ascending channel.
3. A daily close above $102,000 sets sights on $104,000, and eventually, the upper channel at $108,000.

Will Bitcoin breakthrough pull back?”

BTC is trading for $101,604 at time of writing, up 7% in the last two weeks.

Moving on to top Ethereum rival Solana (SOL), Happel and Allemann say that SOL is eyeing a major rally as well.

“SOL Eyes a Breakout

SOL hit the marked zone and rebounded toward $230. If it surpasses $235 on a daily timeframe, it could break the price compression, targeting the previous high of $264.

Key Signals:

Daily RSI (relative strength indicator) is neutral, far from overbought territory – favorable for a move higher.

If SOL takes off, keep an eye on ecosystem tokens JUP and WIF for potential momentum.

Will SOL reach new heights?”

SOL is worth $230 at time of writing, up 0.3% on the day.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Glassnode Co-Founders Break Down Bitcoin’s Latest Breakthrough, Say Solana (SOL) Is Next appeared first on The Daily Hodl.