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Technical Analysis

Popular Crypto Analyst Predicts Solana Surge: Eyes on $150 and Beyond

Popular Crypto Analyst Predicts Solana Surge: Eyes on $150 and Beyond

A crypto analyst, recognized for accurately predicting Bitcoin’s market bottom in 2018, suggests that Solana (SOL) is poised for significant upward movement.

The analyst shared insights with a substantial following on the social media platform X, highlighting SOL’s potential wave-three rally.

Based on technical analysis utilizing Elliott Wave theory, Bluntz anticipates SOL reaching levels last observed in January 2022, marking the culmination of a five-wave surge.

Expressing confidence in SOL’s strength, Bluntz noted missed opportunities to purchase at $90 but maintains a significant position in the asset, emphasizing anticipation of a surge to $150 and beyond.

Elliott Wave theory, which guides Bluntz’s analysis, posits that assets undergo predictable price movements driven by crowd psychology, typically characterized by five-wave patterns, with wave three being the most robust and prolonged.

READ MORE: Bitcoin Prediction: BTC to Soar to $112,000, According to CryptoQuant CEO

Bluntz is also monitoring the price action of Solana competitor Sei (SEI), suggesting that it’s nearing the completion of its five-wave surge and could surpass its previous all-time high, potentially exceeding $1.

Observing SEI’s consolidation phase, Bluntz anticipates a move towards the psychological milestone of $1, with potential for further gains beyond.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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