🚀🚀🚀 #Solana ($SOL) Could Surge 40% From Current Levels, Says Crypto Strategist Who Predicted Bitcoin’s 2018 Bottom
A renowned #cryptocurrency strategist, known for accurately predicting the 2018 bear market bottom, has recently shared a bullish outlook for the smart contract platform Solana ($SOL). The analyst, Bluntz Capital, who commands a following of over 230,000 on the microblogging platform X (formerly Twitter), believes that Solana's price could surge by more than 40%, surpassing the $140 mark.
In a recent post, Bluntz Capital pointed out that Solana's current downtrend has been tested extensively and appears to be entering a bullish phase. According to the analyst, the clear three-wave move down from the highs looks corrective, and the past two weeks seem to have formed an accumulation phase.
Solana, which experienced a notable recovery from the fallout of the #FTX cryptocurrency exchange collapse, has been gaining traction in its ecosystem. Despite challenges associated with FTX's founder, #SambankmanFried , being found guilty of wire fraud and money laundering, Solana's ecosystem has seen increased adoption. The Saga smartphone, tied to Solana, recently sold out after a lucrative 30 million BONK token airdrop for each new owner.
Using Elliott Wave theory, which analyzes recurring wave patterns based on the psychology of market participants, Bluntz Capital suggests that Solana has completed a wave-two corrective phase and is poised for a third wave rally. The analyst accurately predicted the end of the 2018 bear market, forecasting Bitcoin's price to reach $3,200, a target that was achieved in December of that year. Solana has seen significant growth, with its price surging over 320% in the past year and over 30% in the last 30 days, despite a recent 4% dip amid a broader crypto market sell-off.
Source - cryptoglobe.com
