Solana (SOL) is gaining attention from a well-respected analyst who believes that the cryptocurrency is on the brink of a major rally towards a new all-time high. Bluntz, a popular trader known for his accurate crypto calls, shared his insights with his followers on X.
Utilizing the Elliott Wave theory, Bluntz pointed out that Solana has completed an ABC correction on the four-hour chart. According to this theory, after a corrective pullback, a bullish asset typically experiences a five-wave upside surge. Bluntz expressed his confidence in Solana’s potential, stating, “SOL pullback has also unfolded in a clear ABC with the B wave as a triangle, should be en route to an all-time high from here, in my opinion.”
Backing his analysis with a chart, Bluntz predicted that Solana could reach $320, surpassing its current value of $226. The trader’s bullish outlook on Solana coincides with his perspective on Bitcoin (BTC), suggesting that the leading cryptocurrency may also be undergoing an ABC correction. Bluntz hinted that BTC could potentially drop to around $96,000 before initiating a final leg-up.
Speculating on Bitcoin’s future trajectory, Bluntz hinted at a possible rally towards $130,000 as the bull market approaches its end. With Bitcoin currently priced at $101,076, the trader’s projections indicate a significant potential upside for the cryptocurrency.
In conclusion, Bluntz’s analysis of Solana and Bitcoin’s price movements provides valuable insights for investors looking to capitalize on potential market opportunities. As the crypto market continues to evolve, staying informed and following expert analysis can help traders make informed decisions. Subscribe to receive email alerts and stay updated on the latest price action trends. Follow us on X, Facebook, and Telegram for more updates on the crypto market. Stay connected with The Daily Hodl Mix for a comprehensive overview of the latest developments in the world of cryptocurrency.
Remember, the future of cryptocurrencies is filled with possibilities and opportunities. Keep a close eye on market trends and expert opinions to make informed investment decisions.