The widely respected cryptocurrency analyst and trader is predicting further upside for the altcoin, which has soared by triple digits over the past few months.
Analyst known by the pseudonym Bluntz says The 239,700 followers of social media platform
“SEI continued to consolidate and then rise to higher levels. I thought SEI’s psychological level of $1 was a good target.
After checking SEI/BTC now, I don’t think $2 is outside the realm of possibility.”
According to the analyst’s chart, SEI’s US dollar pair appears to have broken out of the downtrend line on the 1-hour chart. In the SEI/BTC pair, it appears that SEI has completed a three-wave pattern within a larger five-wave pattern.
Blunts regularly applies Elliott Wave Theory, the concept that major trends in asset prices move in five-wave patterns, while corrective trends occur in three-wave patterns, to technical analysis.
SEI is trading at $0.794 at the time of writing, which is approximately 426% higher than the $0.151 price recorded on November 15, 2023.
Solana (SOL) switches to Bluntz Called The fifth-largest cryptocurrency asset by market capitalization could rise around 30% from current levels based on the price movement of SOL’s Bitcoin pair.
According to Bluntz’s chart, the SOL/BTC pair appears to have formed three consecutive higher lows on the daily chart, indicating a potential bullish reversal.
“SOL/BTC is shaping up beautifully here.
I think SOL would be ripped off by about $150.”
Solana is trading at $115 at the time of this writing.
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