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💥💥💥Solana Will Rise Above $200 From Bottom💥💥💥
A cryptocurrency expert who correctly predicted the market's bottom in 2018 is now analysing Solana's price bottom and next objective.
Crypto expert ‘Bluntz’ suggested a Solana price bottom on Wednesday X (previously Twitter). Bluntz projected on his April 4 article that Solana would bottom at or around $160 before rising, but in his current post he forecasted $162.
The crypto expert expects Solana's price to bottom around $162 before rising, signifying a positive bounce. Bluntz utilizes Elliot wave theory to estimate Solana's price changes between March and April 2024, sharing many price charts.
Elliott wave theory is a unique technical analysis that anticipates market movements by recognizing long-term price patterns tied to investor mood and psychology.
Bluntz previously posted a pricing chart showing Solana's next leg up after reaching the projected price bottom at $224. He predicted a $224 bitcoin increase before April 22.
Solana prices have fallen double-digits for weeks. According to CoinMarketCap, the cryptocurrency is trading at $151.15, down 12.32% in 24 hours and 13.93% in a week.
Due to Solana's network congestion, this drop continues. In April, Solana had a network outage that failed 75% of transactions. This severely disrupted blockchain operations, worrying investors and the crypto community.
After the outage, Solana prices dropped and have continued to fall. Despite scheduling a network resolution for April 15, the cryptocurrency's value hasn't improved.
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