Bluntz, the crypto analyst known for predicting Bitcoin’s bear market in 2018, is now turning his attention to Chainlink He translated it to (LINK).
Analyzing the eight-hour chart, Bluntz observed several bullish indicators for LINK. He notes that Chainlink recently completed a significant fifth wave decline. He states that this indicates a potential bullish change.
Elliott Wave Theory in Action
Bluntz used Elliott Wave theory, which analyzes market movements in terms of investor psychology patterns. In this context, it suggests that Chainlink may have reached a significant low in its fourth wave. He predicts an upward move for LINK to reach $20, a price point last seen in January 2022. This represents an increase of over 37% from its current price of $14.27.
Chainlink’s Potential Rise
Bluntz’s analysis suggests that Chainlink could begin a major rally, and his $20 target price implies significant gains for investors who stay the course. It emphasizes the importance of being careful in the face of market fluctuations.
Solana’s Expected Debut
solanaBluntz, who also focuses on (SOL), emphasizes that he is ready for a breakout in its pairing, especially against Bitcoin (SOL/BTC). He observes that a bullish formation has emerged on the SOL/BTC chart after a short period of consolidation.
Bluntz predicts a significant uptrend for Solana once it breaks its 37-day range. He predicts Solana will reach around $85 and make significant gains from its current trading price of $74.73.
Crypto community respects Bluntz’s predictions, given his track record in predicting market trends. His latest views on LINK and Solana offer promising prospects for these cryptocurrencies. However, as with all investments, it is crucial that investors do their own research and risk analysis and remain informed and cautious in the dynamic crypto market.