A widely respected cryptocurrency analyst and trader remains bullish on one hot Ethereum (ETH) competitor.
Analyst known by the pseudonym Bluntz says Solana (SOL) has much more upside potential after surging 10x since September, according to 248,700 followers on social media platform X.
“SOL vertical accumulation has ended. The sluice gates were open and the water channels were damaged. “We are approaching an all-time high.”
He said a look at the trader’s charts suggests that Solana’s upward momentum is strengthening after a strong showing in the rising channel.
Solana is trading at $179.56 at the time of this writing, up more than 5% in the last 24 hours. Solana hit an all-time high of $259.96 in November 2021.
merchant island Called Another big reason Solana should remain strong is its outperformance compared to Bitcoin (SOL/BTC) and Ethereum (SOL/ETH).
“SOL/BTC and SOL/ETH are already hitting new highs. There is no second best option.”
Next is the merchant Usage Elliott Wave Theory predicts that Bitcoin will head towards around $80,000 after recently falling to the mid-$60,000 range.
Elliott Wave Theory states that major trends in asset prices move in a five-wave pattern, while corrections occur in a three-wave ABC pattern.
“Good business for BTC on the ABC retest of previous all-time highs, with 5 waves accounted for within C. Public concern was raised about the use of nuclear weapons, funding was cut off and neutrality returned. send.”
Looking at the trader’s 1-hour chart, he suggests that Bitcoin has completed its corrective ABC wave and will soon begin a five-wave uptrend.
At the time of writing, Bitcoin is trading at $68,262, down 3.7% in the last 24 hours.
Finally, the merchant Called The native token of layer-1 blockchain Sei (SEI) is on the verge of rising up to $1.60 in a five-wave pattern.
“SEI has been a slow burner this week, but I think they are finally ready. I think that’s where the next impulse begins.”
Sei is trading at $1.06 at the time of this writing, up more than 24% in the last 24 hours.
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