The cryptocurrency strategist, who hit Bitcoin (BTC)’s lowest price during the 2018 bear market, believes Solana (SOL) is poised for a steep rally.
Alien analyst Bluntz told his 234,400 followers on social media platform X that Solana appeared to be forming a bullish reversal pattern on the one-hour chart.
According to the analyst, he expects SOL to consolidate briefly before starting a parabolic rally.
“Beautiful round bottom formed in SOL.
I wouldn’t be surprised to see a high period on this go sideways before the next surprising parabolic leg appears.”
Bluntz with Solana now trading well above the pattern’s support level. predict A rally for the 5th largest altcoin by market capitalization is imminent.
“We’ve had some good moves down low so far in SOL.
We will soon hit new highs.”
As of this writing, SOL is trading at $107.40.
Next, traders take a look at the new layer 1 blockchain Sei (SEI). SEI is establishing itself as one of the fastest horses in this cycle after rallying nearly 400% in just a few months, according to Bluntz.
“SEI is quickly becoming one of the best performing companies in this cycle.
“I think it should definitely be on everyone’s radar for a downturn in 2024.”
As of this writing, SEI is worth $0.711, up about 200% since early December.
Another altcoin of interest to traders is Lido DAO (LDO), a cryptocurrency project that allows users to stake Ethereum (ETH) without having to lock up their assets or maintain any infrastructure.
According to analysts, LDO appears to be flashing a bullish reversal signal in the Bitcoin pair (LDO/BTC), while at the same time a breakout is expected in the US Dollar pair.
“I have a love-hate relationship with myself. LDO But I think there will finally be a price discovery breakthrough. There is a weekly strength gap in BTC pairs.”
As of this writing, LDO is worth $2.87.
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