A widely followed analyst is expressing bullish sentiment on a leading Ethereum (ETH) competitor as the total crypto market cap approaches $3 trillion.
The analyst pseudonymously known as Bluntz tells his 247,200 followers on the social media platform X that Solana (SOL) is about to go up even higher after gaining by 92% from the January 23rd low of $79.
“Solana looks like it’s been vertically accumulating since the January 23rd low, the floodgates open soon in my opinion.”
Solana is trading at $152 at time of writing, up by approximately 591% from the close of $22 reached on October 14th, 2023.
Next up is the Solana-based memecoin dogwifhat (WIF). According to Bluntz, who regularly applies the Elliott Wave theory in his technical analysis, WIF has potentially ended a short-term downtrend on the one-hour chart after completing a five-wave pattern within the last wave of a correctional three-wave pattern.
The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.
Based on Bluntz’s chart, it appears that the analyst sees WIF potentially reaching a price of $2.80 from the current level.
WIF is trading at $2.31 at time of writing.
Next up is the Solana-based low-cap memecoin Myro (MYRO). According to Bluntz, MYRO is set to soar even higher.
“Still the ONLY dog coin under a billion dollars on multiple tier-1 exchanges now, but not for long.
MYRO.”
MYRO is trading at $0.339 at time of writing and has a market cap of slightly over $338 million.
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The post ‘Floodgates Open Soon’ – Altcoin That’s Exploded Over 590% in Five Months Primed for More Upside: Top Analyst appeared first on The Daily Hodl.