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:
- Flip $102,000 into support, breaking the price compression below this zone.
- 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.
- 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.
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The post Glassnode Co-Founders Break Down Bitcoin’s Latest Breakthrough, Say Solana (SOL) Is Next appeared first on The Daily Hodl.
