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Home»ALTCOIN NEWS»A top cryptocurrency analyst says the Ethereum rival, which has exploded more than 370% in three months, is hinting at more upside ahead.
ALTCOIN NEWS

A top cryptocurrency analyst says the Ethereum rival, which has exploded more than 370% in three months, is hinting at more upside ahead.

By Crypto FlexsDecember 21, 20232 Mins Read
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A top cryptocurrency analyst says the Ethereum rival, which has exploded more than 370% in three months, is hinting at more upside ahead.
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A widely respected cryptocurrency analyst is expressing bullish sentiments about the popular layer 1 altcoin.

Analyst pseudonym known as Bluntz says The 232,600 followers of social media platform

The strategist says the Avalanche is forming a pattern that could see it reach a price of $50, about 17% above current levels.

According to a 4-hour chart from a trader utilizing Elliott Wave Theory in technical analysis, Bluntz appears to be hinting that the Avalanche has completed two waves of a bullish five-wave pattern so far, potentially pushing the 10th largest cryptocurrency asset. . $50 or more.

Source: Bluntz/X

Elliott Wave Theory is a tool used to predict future price movements based on the premise that prices move in a repeatable and predictable five-wave pattern.

The Avalanche is trading at $42.77 at the time of this writing. This is a 372% increase from the $9.06 price reached on October 20th.

Analysts too proposal His insights on Solana (SOL), a smart contract platform coupled with Bitcoin (SOL/BTC). According to Bluntz, SOL/BTC traded within a range for 37 days before breaking out. Bluntz said that following the breakout, the SOL/BTC pair could experience the “steepest” rise ever recorded.

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Source: Bluntz/X

Solana is trading at 0.00181019 BTC at the time of writing.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Image created: DALLE3

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