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November 9, 2023

Crypto Analyst Predicts Potential Pullback for Solana and Altcoins, Bullish on Beam

Ethan Lim
Written byEthan LimWriter
Researched byNikos PapadopoulosResearcher

Introduction

A crypto analyst who accurately predicted the top of the 2021 Bitcoin bull market is now forecasting a potential pullback for Solana (SOL) and other altcoins. The analyst, known as Pentoshi, has a large following on the social media platform X and has shared his insights with over 700,000 followers.

Crypto Analyst Predicts Potential Pullback for Solana and Altcoins, Bullish on Beam

Solana's Potential Pullback

According to Pentoshi, Solana could experience a dip of more than 25% from its current value. He suggests that investors may have another opportunity to buy at around $35-$36, or even as low as $32.

Altcoins Facing Pullbacks

Pentoshi also predicts that many other surging altcoins will likely see pullbacks of 15-20% in the near future. He believes that these pullbacks will present buying opportunities for investors who are currently on the sidelines.

Beam's Progress

Pentoshi also comments on the progress of the confidential transaction blockchain project Beam (BEAM). He highlights key milestones in the ecosystem, including a recent buyback and burn worth $158,000. He notes that over 37% of BEAM has been burned so far, and the treasury has increased by over 2.5 million this month. Pentoshi expects another million USD to be burned by the end of the year.

Bullish on BEAM

In addition to providing updates on BEAM's progress, Pentoshi expresses his bullish sentiment towards the project. He anticipates solid updates by the end of the year, which could further drive the value of BEAM.

Conclusion

In summary, the crypto analyst Pentoshi predicts a potential pullback for Solana and other altcoins, providing investors with potential buying opportunities. He also highlights the progress of the Beam project and expresses optimism for its future updates. Investors should conduct their own research and exercise caution when making investment decisions in the volatile cryptocurrency market.

About the author
Ethan Lim
Ethan Lim
About

Ethan Lim, a native of the Lion City, is Singapore’s rising star in the domain of online casino guide localization. He masterfully blends his intimate knowledge of local culture with international gaming standards to produce content that resonates deeply with Singaporeans.

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