The popular cryptocurrency analyst and trader is bullish on Solana (SOL)’s competitors, while also giving his outlook on Bitcoin and layer 1 blockchain Saga (SAGA).
The analyst, known by the pseudonym Blunts, told his 275,300 followers on social media platform X that Solana’s rival Sui (SUI) is set to surge after breaking above the upper boundary of an ascending channel on the 4-hour chart.
Blunts also said the breakthrough coincided with a surge in trading volume.
“SUI will continue to rip off a ton of money. I think it’s free money.
A slow crushing channel breakthrough of this volume almost always indicates that a strong thrust is underway.
Leaders continue to lead.”
Based on the chart, Blunts seems to be predicting that SUI could surge above $2.40, which would be about 75% up from current levels.
As of this writing, Sui is trading at $1.37, up 58% from its low of $0.867 about a week ago.
Next up is Bitcoin (BTC). According to an anonymous analyst, Bitcoin could reach its cycle peak in late 2024 or early 2025.
Blunts predicted that Bitcoin is forming a five-wave pattern that will lead to a surge that could reach around $100,000.
According to Elliott Wave Theory, the main price trend of an asset moves in five waves, while corrections occur in three waves.
“Don’t miss the next BTC all-time high crash. This will be the last macro rally. You have 3-4 more months to make as much money as possible.”
As of this writing, Bitcoin is trading at $62,706.
Next up is the native token of the Layer 1 blockchain, Saga (SAGA). Bluntz says SAGA is currently in a “bad” bullish setup, and the bullish thesis is supported by the fact that the project is backed by venture capitalists while having a relatively low market cap.
Based on Blunts’ chart, Saga appears to be forming an Inverted Head and Shoulders pattern on the daily chart. This is a bullish pattern that suggests sellers are tired and prices are unable to make lower lows.
As of this writing, Saga is trading at $2.35.
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