Solana (SOL) Expected to Continue Surging, Says Top Analyst
A widely followed analyst, known as Bluntz, is expressing bullish sentiment on Solana (SOL), a leading competitor of Ethereum (ETH). As the total crypto market cap approaches $3 trillion, Bluntz believes that SOL is primed for further upside after already gaining 92% from its January 23rd low of $79.
Bluntz, who regularly applies the Elliott Wave theory in his technical analysis, sees potential for SOL to continue its upward trajectory. Here are the key points from his analysis:
- Solana has been accumulating since its January 23rd low.
- The floodgates for SOL are expected to open soon.
As of now, Solana is trading at $152, marking an impressive 591% increase from its October 14th closing price of $22.
Analyst Highlights Potential Upside for Solana-Based Memecoins
In addition to Solana, Bluntz also points out two Solana-based memecoins that he believes have significant upside potential:
1. Dogwifhat (WIF)
Bluntz suggests that WIF may have ended a short-term downtrend and completed a five-wave pattern within a correctional three-wave pattern on the one-hour chart. Based on this analysis, he sees WIF potentially reaching a price of $2.80 from its current level. At the time of writing, WIF is trading at $2.31.
2. Myro (MYRO)
Bluntz highlights MYRO as the only dog coin under a billion dollars on multiple tier-1 exchanges. He believes that MYRO’s current status won’t last for long, indicating the potential for significant growth. MYRO is currently trading at $0.339 with a market cap of slightly over $338 million.
Hot Take: Solana and Its Memecoins Are Positioned for Success
As the total crypto market cap continues to climb, Solana and its associated memecoins are capturing the attention of analysts like Bluntz. With the potential for further upside, these assets could be worth keeping an eye on in the coming months.
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