A crypto analyst with the pseudonym Bluntz wrote on X, an Ethereum (ETH) compatible parachain built on Kusama (KSM). moonriver He stated that he observed (MOVR).
A chart showing Moonriver is showing an ABC correction wave and is poised for a rally near $40, analyst says shared.
Bluntz often uses Elliott Wave theory. This theory is a technical analysis approach that attempts to predict future price movements by following crowd psychology, which tends to occur in waves.
According to theory, an asset in an uptrend tends to witness an ABC corrective wave before igniting the next surge.
MOVR is trading at $23.31 at press time, up nearly 478% from the low of $4.03 reached on October 27 last year.
Along with these, the analyst solana (SOL) and Sei (SEI) layer-1 blockchains also track price movements, he noted. According to the analyst, both altcoins are top tier-1 picks. Because according to the analyst, they both “look amazing”
Solana is trading at $93.26 at the time of writing. However, Sei coin is also trading at $0.662.