Analyst Bluntz, known for his successful predictions and knowledge of the crypto markets, evaluated the rise and upward trend of Solana (SOL), which stands out as an Ethereum (ETH) rival, this year. According to Bluntz’s analysis, Solana’s big rally is still ongoing and could present attractive opportunities for investors.
Beyond Solana’s current success, an important point Bluntz makes is that this altcoin has the potential to reach an all-time high (ATH). At this point, the analyst sees Solana still carrying significant gain potential and could be up more than 257% from current levels. guess It does.
“SOL is still 113% away from ATH (all-time high). Why is everyone so determined to get to the top? What’s wrong with you?
Only buy on all lows up to $400. Not a single person will remember the guy who either managed or failed to short a 10% drop, but they will remember the kids who aspired to hit the inevitable all-time highs. “Don’t think too much, LEFT is the most loved chain of this cycle, embrace it.”
NEWS CONTINUES BELOW
At the time of writing, the popular altcoin is trading at $112, an increase of more than 1000% from this year’s opening price of $9.99.
Koinfinans.com As we reported, looking at Solana’s shorter-term charts, the analyst thinks that the altcoin price is ready for another rise against both the dollar and Bitcoin (SOL/BTC).
“I think it was just a nice little 12% drop in a monster uptrend with a few more bullish moves for the SOL BTC trading pair and the USD trading pair. Don’t fight the trend.”
Bluntz used Elliott Wave theory in his analysis. Elliot Wave theory is a technical analysis tool that predicts future price movements by manifesting in waves and following crowd psychology. According to the said theory, when an asset is in an uptrend, it usually witnesses an ABC correction wave before initiating the next major uptrend.
Looking at SOL/USD, the analyst seems to suggest that the pair is once again in a recovery position after completing its ABC correction. He seems to be predicting that the SOL/BTC pair could break above 0.0034 BTC at $144.
You can follow the current price movement here.