Leading Trader Anticipates Fresh Uptrend for SOL and One Solana-Based Altcoin, Provides Insight on Dogecoin
A prominent analyst, known for their accurate altcoin predictions, believes that three cryptocurrencies are on the verge of experiencing upward movement. Bluntz, a pseudonymous trader, has conveyed their bullish sentiment towards Solana (SOL) to their 252,000 followers on X social media platform.
Bluntz, an adept crypto strategist, suggests that Solana has completed an ABC corrective wave against Bitcoin (SOL/BTC) on the eight-hour chart. They anticipate a potential new surge for SOL, stating, “SOL gearing up for another run IMO. SOL/BTC looking like a nice ABC now done. Swept the (a) wave lows and has now reclaimed.”
Drawing from their expertise in Elliott Wave theory, Bluntz believes that after an ABC correction, a bullish asset often undergoes a fresh upward movement. Based on their chart analysis, they forecast that SOL/BTC could increase to 0.00365 BTC ($254).
Currently valued at $194.24, SOL has shown promising growth to support Bluntz’s prediction.
Bluntz’s attention also extends to the Solana-based decentralized exchange (DEX) aggregator, Jupiter (JUP). They anticipate rallies for JUP following the completion of an ABC correction. Bluntz describes JUP as the strongest among the “holy trinity” comprising JUP, JTO, and PYTH.
Presently, JUP trades at $1.52, marking a 7% increase in the past 24 hours.
In addition to SOL and JUP, Bluntz possesses a positive outlook on Dogecoin (DOGE), a well-known memecoin. The trader offers two charts to illustrate DOGE’s similarity to a pattern observed in Bitcoin’s early 2023 performance when it reached a low of approximately $16,000.
The charts imply the potential for DOGE to follow a comparable trajectory.
As of now, DOGE is valued at $0.205.