A well-known crypto trader has expressed his belief that Solana (SOL) has experienced its final significant correction for this market cycle. In a post on the social media platform X, the trader, known as Inmortal, informed his 213,300 followers that SOL bulls successfully defended the support level at around $120. He shared a chart indicating that the blue-chip altcoin is now poised for a rally towards a new high of $320 in 2024.

At the time of writing, SOL is valued at $153.45, suggesting a potential increase of nearly 110% if the altcoin reaches the analyst’s target. Inmortal also predicts that three memecoins, including Floki (FLOKI), will rally alongside Solana. He believes that FLOKI, which recently retested the 200 moving average on the eight-hour chart and reclaimed support at $0.00015, will dip to approximately $0.00017 before surging to $0.00025 later this month.

The trader emphasizes the correlation between SOL and other memecoins, stating that if SOL goes up, then FLOKI, DOGE, and PEPE will also rise. Inmortal is particularly interested in FLOKI due to its deviation, retest, and 200 MA factors. At the time of writing, FLOKI is trading at $0.000179.

In addition to FLOKI, Inmortal has his sights set on Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming. The analyst notes that SFUND is currently solidifying the $2.60 level as support after retesting a 578-day accumulation for the second time. Inmortal predicts that SFUND will rally to $6 in the coming months. At present, SFUND is trading at $2.65.

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