A crypto strategist who nailed the Bitcoin’s (BTC) price floor during the 2018 bear market thinks Solana (SOL) is gearing up for a steep move to the upside.
Pseudonymous analyst Bluntz tells his 234,400 followers on the social media platform X that Solana appears to be forming a bullish reversal pattern on the one-hour chart.
According to the analyst, he expects SOL to consolidate for a bit before launching a parabolic rally.
“Beautiful rounded bottom forming on SOL.
Would not be surprised to see some high timeframe sideways on this before the next mind-blowing parabola leg.”
With Solana now trading well above the pattern’s support, Bluntz predicts an imminent rally for the fifth-largest altcoin by market cap.
“Nice move from the lows so far on SOL.
New highs soon.”
At time of writing, SOL is trading for $107.40.
Next up, the trader is looking at the new layer-1 blockchain Sei (SEI). According to Bluntz, SEI is shaping up to be one of this cycle’s fastest horses after launching a nearly 400% rally in just a few months.
“SEI is quickly turning into this cycle’s outperformer.
Should definitely be on everyone’s radar for pullbacks in 2024, in my opinion.”
At time of writing, SEI is worth $0.711, up about 200% since the start of December.
Another altcoin on the trader’s radar is Lido DAO (LDO), a crypto project that aims to allow users to stake Ethereum (
Go to Source to See Full Article
Author: Henry Kanapi
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
