A Top Crypto Analyst Predicts a Massive Rally for Ethereum Rival
A well-known crypto trader believes that Solana (SOL), an Ethereum (ETH) competitor, is on the brink of a significant surge in value. According to the analyst, Solana could potentially increase by almost 47% from its current price. The trader, who goes by the pseudonym Bluntz, utilizes the Elliott Wave theory to support his technical analysis. This theory suggests that the price of an asset follows a five-wave pattern during an uptrend and a three-wave pattern during a correction.
Solana’s Potential Upside
Bluntz’s chart indicates that Solana is currently in the process of forming a five-wave pattern, which could push its value above $145. At present, Solana is trading at $98.70, experiencing a decline of nearly 7% over the past 24 hours.
Another Promising Project: Sei Network
In addition to Solana, Bluntz predicts that Sei Network (SEI), a newer layer-1 blockchain project, may soon reach the $1 level after completing a three-wave correction. Despite its recent parabolic rise, the trader believes that SEI’s dips are still following a predictable pattern and that reaching $1 seems highly likely. Currently, SEI is trading at $0.72, with an 8% decrease in the last 24 hours.
Lido DAO’s Breakout Potential
Bluntz also anticipates a breakout for Lido DAO (LDO), a crypto project designed to enable users to stake Ethereum without locking their assets or managing infrastructure. The analyst highlights LDO’s gains against Bitcoin and suggests that it is on the verge of a price discovery breakout. According to his chart, LDO is approaching a key resistance level at $3.17, and its value against Bitcoin could surge to 0.000140 BTC ($6.16). LDO/BTC is currently trading at 0.00007549 BTC ($3.32).
Hot Take: Positive Projections for Solana, Sei Network, and Lido DAO
According to a prominent crypto analyst, Solana, Sei Network, and Lido DAO are all poised for significant gains in the near future. Solana’s potential surge could push its value above $145, while SEI is expected to reach the $1 level after a three-wave correction. Meanwhile, Lido DAO’s breakout could lead to a price discovery phase with substantial gains against Bitcoin. These projections provide an optimistic outlook for these Ethereum rivals.
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