Recently, many analysts have been expressing bullish expectations regarding the popular altcoin Solana (SOL). One of these analysts is the closely followed crypto analyst Bluntz. Bluntz is adamant that Solana will continue its upward trend and frequently shares his views on the matter.
Although SOL has gained 10x in value since September, this is not limited to vertical acceleration, Bluntz claims. According to Bluntz, SOL’s true potential has not yet been revealed and has significant upside potential. The analyst says that SOL’s vertical accumulation period is over and there is now a channel break for the rise. emphasizes. This could accelerate SOL’s move towards all-time highs.
According to the chart, Solana appears to have gained strength by breaking out of an ascending channel. Bluntz states that this breakout may allow the altcoin price to strengthen further and reach new highs.
According to the analyst, another big reason why Solana continues its uptrend is its superior performance against other major cryptocurrencies, Bitcoin and Ethereum. Observing that SOL/BTC and SOL/ETH pairs have reached new peaks, Bluntz emphasizes that Solana performs better against these pairs. This situation causes SOL to attract more and more attention in the cryptocurrency market and attract the attention of investors.
“SOL/BTC and SOL/ETH are already reaching new highs. “There is no second best.”
NEWS CONTINUES BELOW
All in all, based on Bluntz’s analysis, Solana appears to have a bright future ahead of him.
In addition, the analyst also updated his predictions about the leading cryptocurrency Bitcoin using the Elliott Wave theory. Bluntz predicts BTC will head towards around $80,000 after the recent decline towards the mid-$60,000s.
nice divs on #btc here into an abc retest of prior ath with 5 waves accounted for within the C
OI nuked and funding flat and back to neutral.
send it pic.twitter.com/EwTxXPKt4M
— Bluntz (@Bluntz_Capital) March 15, 2024
Elliot Wave theory assumes that the main trend of an asset’s price moves in a five-wave pattern, while the correction occurs in a three-wave ABC pattern. Looking at the trader’s chart, it appears that Bitcoin has completed its corrective ABC wave and is about to begin a five-wave uptrend.
Finally, the analyst claims that Sei (SEI) is on the verge of breaking as high as $1.60 in a five-wave pattern. The analyst said the following for the altcoin:
“SEI has been slowly kicking in this week, but I think it finally looks ready. “In my opinion, the next move is about to begin.”
You can follow the current price movement here.
