A high-profile analyst has predicted that Ethereum (ETH) rival cryptocurrency Solana (SOL) is set to make a strong breakout soon.
Pseudonymous analyst Blantz told his 256,800 subscribers on social media platform X that #SOL has drawn a bullish pattern on its four-hour chart and appears to have set a higher low.
In my opinion, SOL is poised for a strong breakout.
This trader is also using Elliott wave theory. According to Elliott Wave Theory, bullish assets often witness new rallies after a three-part ABC correction. His chart suggests that traders completed the ABC correction after the SOL retested the $120 level.
At the time of writing, #Solana is trading at $159, up more than 3% in the last 24 hours.
The analyst also states that #PEPE (PEPE) appears to be in a bullish uptrend after bouncing off the key Fibonacci level at $ 0000004454. He also believes that Pepe's chart is the most bullish compared to other major memcoins.
Of all the major memcoins, Pepe looks the best in my opinion. [Pepe has already cleared and bounced off the lows of wave (a) after reversing off the key 0.618 [Fibonacci level].
Judging from the chart, analysts suggest that Pepe could move above the USD 0000013 level.
At the time of writing, Pepe was trading at $0000007721, up more than 14% in the last 24 hours.
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