A prominent crypto analyst has made bullish predictions for an altcoin running on the Ethereum network. The analyst, known as Bluntz, shared on social media that Chainlink (LINK) is exhibiting multiple bullish signals on the eight-hour chart. Bluntz believes that LINK could rally to levels last seen in January 2022, with a price target of $20. This would represent a nearly 40% surge from the current price of $14.57. Bluntz bases his predictions on the Elliott Wave theory, which analyzes market psychology and predicts future price movements in waves.
In addition to Chainlink, Bluntz also updated his outlook on Solana (SOL). He suggests that SOL is preparing to break out against Bitcoin, indicating potential significant gains for its US dollar pair. Bluntz believes that once the current 37-day range is breached, SOL will experience a substantial surge. Despite bearish sentiments from some market participants, Bluntz remains optimistic about SOL’s potential. At the time of writing, SOL/BTC is trading at 0.0017526 BTC ($75), near a resistance level at 0.0018 BTC ($77.06).
Overall, Bluntz’s predictions indicate positive sentiment for both Chainlink and Solana, highlighting potential opportunities for investors in these Ethereum-based altcoins.