Positive events have come for #Solana📈🚀🌐 (SOL), the high-performance #blockchain network, indicating bullish momentum. In the last month, the price of Solana has risen by 84%, and is currently trading at $56.
With gains of 18 out of the previous 30 days and price volatility of 22.32%, Solana is still a force to reckon with. In that span of time, #SOL’s price surged by a staggering 78%, from $32 to $57.
The ecosystem is much more excited now that Binance has listed #BONKUSDT , a meme coin based in Solana. Further evidence of Solana’s commitment to the arts is the creation of Artists in Residence, a bustling studio that showcases the variety of art forms involved in the project
Bluntz, a well-known pseudonymous #cryptocurrency expert, has shared an intriguing forecast for Solana (SOL), predicting a strong rebound and an upward trend for the virtual asset.
Bluntz recently stated in a YouTube presentation that Solana’s native cryptocurrency, SOL, which is a strong competitor to Ethereum (ETH), has a potential to hit the $80 level.
Based on his research, Solana looks to be about to experience a significant uptick, indicating possible buying opportunities as it stands as a formidable Ethereum substitute in the cryptocurrency market.
The Elliott Wave theory, a popular technical analysis approach in trading that Ralph Nelson Elliott created in the 1930s, is the main focus of Bluntz’s analysis.
Elliott Wave theory states that price movements in financial markets typically follow a natural rhythm that consists of five waves that follow the trend and three waves that correct it.
Bluntz said that Solana has effectively passed through its corrective phase—a pivotal point that suggests there may be a big upswing.
His analysis indicates that this pattern marks the end of Solana’s declining price trend and the beginning of a new growing phase for the cryptocurrency.
