A Crypto Analyst Expects a Major Rally for Solana (SOL)
A trader who accurately predicted Bitcoin’s 2018 bear market bottom is now forecasting a significant surge for Solana (SOL), an Ethereum rival. According to the pseudonymous analyst Bluntz, Solana has completed an ABC corrective wave and is poised to begin a new five-wave rally. This rally could result in SOL experiencing gains of around 50% from its current price. Bluntz practices the Elliott Wave theory, which involves analyzing crowd psychology to predict future price movements. SOL is currently trading at $97.24, with a 4% increase in the past 24 hours.
Moonriver’s Native Asset Shows Bullish Signs
Bluntz is also monitoring the native asset of Moonriver (MOVR), which is an Ethereum-compatible parachain built on Kusama (KSM). The analyst believes that MOVR is looking bullish after completing an ABC corrective move. In a previous prediction, Bluntz mentioned that MOVR could potentially rally to as high as $50. Currently, MOVR is valued at $23.48, showing a decrease of 4.49% in the past day.
Hot Take: Promising Outlook for Solana and Moonriver
Crypto analyst Bluntz is optimistic about the future performance of both Solana (SOL) and Moonriver’s native asset (MOVR). According to his analysis using the Elliott Wave theory, SOL has completed an ABC corrective wave and is expected to embark on a new five-wave rally, potentially resulting in significant gains. Similarly, MOVR has shown bullish signs after its own ABC corrective move. While these predictions are not guaranteed, they provide insights into potential price movements for these altcoins.
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