A widely followed crypto trader is predicting that Solana (SOL) will resume moving to the upside after a sudden retracement.
Pseudonymous analyst Bluntz tells his 228,600 followers on the social media platform X that Solana could soar by more than 22% from its current value.
Bluntz utilizes the Elliott Wave theory in his technical analysis. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern.
“Finally got a nice three-wave correction on SOL four-hour, all the late apes washed out.
I think it’s ready for the next leg up into $70 and still very much in a monster uptrend against BTC as well.”
The trader also says that SOL is showing bullish