A trader who correctly called the bottom of the Bitcoin (BTC) bear market in 2018 believes the upward trend for the Ethereum (ETH) challenger, which has significantly outperformed the broader cryptocurrency market this year, is far from over.
Pseudonymous analyst Bluntz told his 233,400 followers on social media platform .
According to Bluntz, Solana has more gas left in the tank. predict SOL still has a gain of over 257% from current levels.
“SOL is still 113% away from ATH. Why is everyone so obsessed with singing the top? What on earth is your problem?
Buy dibs up to $400.
No one remembers a single person who successfully or unsuccessfully shorted a 10% decline, but they probably remember Chad for his run toward the inevitable all-time high.
Don’t overthink it. SOL is the most loved chain of this cycle. “Accept it.”
As of this writing, SOL is valued at $112, up more than 1,000% from its opening price of $9.99 this year.
Looking at Solana’s lower timeframe charts, traders believe the altcoin is poised for another rally against both the US Dollar and Bitcoin (SOL/BTC).
“In my opinion there was a small 12% decline in SOL in a monster uptrend with more legs for the BTC pair and the USD pair. “Don’t buck the trend.”
Bluntz uses Elliott Wave theory in technical analysis in an attempt to predict future price movements by following herd psychology, which tends to appear in waves. The theory is that bullish assets have a five-wave uptrend, followed by an ABC correction before the next uptrend.
A look at the SOL/USD pair from analysts seems to suggest that the pair is in a position to bounce once again after completing the ABC correction. As for the SOL/BTC pair, he appears to be predicting that it could rise above 0.0034 BTC, worth $144.
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