A widely respected analyst has expressed bullish sentiment for one of Ethereum's (ETH) main competitors as the total cryptocurrency market approaches $3 trillion.
The analyst, known by the pseudonym Bluntz, told his 247,200 followers on social media platform X that #Solana (SOL) is poised for further gains after it surged 92% from its Jan. 23 low of $BTC Solana appears to be building vertically from the Jan. 23 low, but in my opinion, the floodgates are about to open.
At the time of writing, Solana was trading at $152, up about 591% from its closing price of $22 reached on October 14, 2023.
Next up is Dogwifhat (WIF), a mimcoin based on Solana. According to Brantz, who regularly applies Elliott Wave Theory in technical analysis, #WIF may have completed a short-term downtrend on the hourly chart after completing a five-wave pattern within the last wave of a modified three-wave pattern.
Elliott Wave Theory states that major trends in asset prices develop in five-wave patterns and corrections occur in three-wave patterns.
According to Mr. Blantz's chart, analysts believe WIF could reach a price target of $2.80 from current levels.
At the time of writing, WIF is trading at US$BTC Next up is Mylo (MYRO), a smaller memcoin founded by Solana. According to Brantz, #MYRO should soar even higher.
'Right now, it's the only coin worth less than $1 billion on several Tier 1 exchanges, but that won't last long,' he says.
At the time of writing, MYRO is trading at $0.339 and has a market value of just over $ 338 million.
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