Top Analyst Anticipates Explosive Growth for Solana Competitor – Here’s His Bullish Projection
A renowned trader, who accurately predicted the bottom of Bitcoin’s bear market in 2018, believes that a significant rally is on the horizon for a competitor of Solana (SOL).
Bluntz, a pseudonymous analyst with a substantial following of 231,700 on the social media platform X, suggests that Sui (SUI), a smart contract platform, is poised for substantial gains after breaking out of its accumulation range.
Sharing a chart, Bluntz illustrates that SUI could surge over 122% from its current price levels.
“Month-long accumulation break on SUI/USD pair. Despite this, the BTC pair is still accumulating. This starts going parabolic soon in my opinion. Still very much early on this but not for much longer.”
Using the Elliott Wave theory, an advanced analytical approach that leverages crowd psychology to forecast future price movements, Bluntz predicts that SUI could potentially reach $1.40 as part of its five-wave rally. Currently, SUI stands at $0.63, comfortably above the trader’s accumulation range.
Regarding Solana, Bluntz believes that SOL will follow a similar trajectory as Avalanche (AVAX), an altcoin that has surged over 90% this month.
“AVAX is now well and truly playing catch up and outpacing SOL by a mile, but both have identical structures, although AVAX is moving harder and faster. It provides a good glimpse into the future of what is to come.”
At present, SOL is trading at $71.30, showcasing its potential for growth.