Prime Dealer Predicts Bullish Continuation for Solana After Corrective Transfer, Says SOL Stays in Monster Uptrend

by Cryptospacey

A broadly adopted crypto dealer is predicting that Solana (SOL) will resume transferring to the upside after a sudden retracement.

Pseudonymous analyst Bluntz tells his 228,600 followers on the social media platform X that Solana may soar by greater than 22% from its present worth.

Bluntz makes use of the Elliott Wave principle in his technical evaluation. The Elliott Wave principle states that the principle pattern of the value of an asset strikes in a five-wave sample.

“Lastly bought a pleasant three-wave correction on SOL four-hour, all of the late apes washed out.

I feel it’s prepared for the subsequent leg up into $70 and nonetheless very a lot in a monster uptrend towards BTC as nicely.”

Supply: Bluntz/X

The dealer additionally says that SOL is exhibiting bullish divergence on the relative power index (RSI), a momentum indicator that merchants use to identify pattern continuation or reversal.

“LTF (low timeframe) divs. (divergence) once more, ship it.”

Supply: Bluntz/X

In keeping with the dealer, an identical bullish divergence appeared on the RSI earlier this month that preceded Solana’s large transfer from $38 to above $60.

The dealer mentioned at the moment,

“LTF divs. on SOL, gimme that sweep hopium.”

Supply: Bluntz/X

Solana soared to a excessive of $62.29 on November eleventh, earlier than dipping right down to $52.05 on November thirteenth. Solana is buying and selling for $57.28 at time of writing, a rise of 8.9% within the final 24 hours.

Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox

Verify Worth Motion

Comply with us on Twitter, Fb and Telegram

Surf The Each day Hodl Combine

Verify Newest Information Headlines


Disclaimer: Opinions expressed at The Each day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses it’s possible you’ll incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in internet online affiliate marketing.

Generated Picture: DALLE3

Supply hyperlink

Related Posts

Leave a Comment