Known for Bitcoin (BTC)’s 2018 market bottom, the cryptocurrency strategist believes Solana (SOL) looks mature enough for a major upside.
Alien analyst Bluntz told his 239,500 followers on social media platform X that Solana appeared to be staging a third-wave rally.
The trader shares a chart that suggests SOL could reach price levels last seen in January 2022 before ending its five-wave surge.
“What looks SOL is now bullish and in three waves up to $150+. There were more bids at $90, but it didn’t hit, so it ended up not being as full as I wanted, but it’s still my biggest spot bag.
send.”
Bluntz practices Elliott Wave theory, an advanced technical analysis approach that attempts to predict future price movements by following herd psychology, which tends to manifest itself in waves. According to the theory, bullish assets witness a five-wave rally, with wave three being the strongest and longest wave.
As of this writing, SOL is trading at $108.48.
Bluntz is also watching the price movement of Solana competitor Sei (SEI). According to analysts, Sei appears to be in the final stages of a five-wave surge that could push it past $1 and hit a new all-time high.
“I think SEI has consolidated enough but is yet to see a daily macro fifth wave higher.
The psychological $1 zone next stop could potentially be higher.”
As of this writing, SEI is worth $0.696.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us TwitterFacebook, Telegram
Daily Hodl Mix Surfing
 
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 that you are responsible for any losses that may occur. 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.
Featured Image: Shutterstock/Art Furnace