A Top Trader Foresees a Parabolic Rally for a Solana Competitor
A trader who accurately predicted the bottom of Bitcoin’s 2018 bear market believes that a significant rally is on the horizon for one of Solana’s competitors. The pseudonymous analyst, known as Bluntz, suggests that the smart contract platform Sui (SUI) is poised for a surge after breaking out of its accumulation range. Bluntz, who practices the Elliott Wave theory, shares a chart indicating that SUI could rise by more than 122% from its current price.
Bluntz also predicts that Solana (SOL) will follow in the footsteps of Avalanche (AVAX), an altcoin that has surged by over 90% this month. Although AVAX is currently outpacing SOL, Bluntz believes that both cryptocurrencies have similar structures and expects SOL to experience a similar trajectory. At the time of writing, SOL is trading at $71.30.
Hot Take: A Promising Outlook for SUI and SOL
A top trader in the crypto space has identified Sui (SUI) as a potential winner in the upcoming market rally. By breaking out of its accumulation range, SUI has set itself up for significant gains according to the trader’s analysis. Furthermore, the trader predicts a parabolic surge for Solana (SOL), drawing parallels with Avalanche’s recent success. Both SUI and SOL offer promising investment opportunities as they continue to gain momentum in the crypto market. Keep an eye on these altcoins as they could be prime candidates for substantial returns in the near future.
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