Analyst Predicts Ethereum and Solana Rallies
An analyst who accurately predicted the 2018 floor price for Bitcoin (BTC) believes that Ethereum (ETH) and Solana (SOL) are set for rallies. The pseudonymous trader, known as Bluntz, notes that ETH has completed a corrective move on the lower time frame chart. He also highlights a bullish divergence on the 30-minute chart, indicating increasing momentum for the smart contract platform. Bluntz practices Elliott Wave theory and predicts that ETH will rally above $1,900 in the short term.
Bluntz also believes that Solana has more room for growth, despite already seeing a 338% increase this year. He points out an 18% three-wave pullback in the uptrend and expects SOL to reach $50+. Additionally, Bluntz is monitoring the performance of the US dollar index (DXY), suggesting that risk-on assets like crypto may see upside moves as he anticipates a significant correction in the DXY.
Hot Take: Analyst Anticipates Bullish Momentum for Ethereum and Solana
Analyst Bluntz predicts that both Ethereum and Solana are poised for rallies. With Ethereum completing a corrective move and showing a bullish divergence, Bluntz expects ETH to surpass $1,900 in the near future. Similarly, Solana is projected to continue its upward trajectory, with Bluntz anticipating a price target of $50+. Additionally, Bluntz suggests that risk-on assets may experience positive movement as he foresees a significant correction in the US dollar index (DXY). These predictions indicate potential opportunities for investors in the crypto market.
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