A widely followed analyst is expressing bullish sentiment on a leading Ethereum (ETH) competitor as the total crypto market cap approaches $3 trillion.
The analyst pseudonymously known as Bluntz tells his 247,200 followers on the social media platform X that Solana (SOL) is about to go up even higher after gaining by 92% from the January 23rd low of $79.
“Solana looks like it’s been vertically accumulating since the January 23rd low, the floodgates open soon in my opinion.”
Solana is trading at $152 at time of writing, up by approximately 591% from the close of $22 reached on October 14th, 2023.
Next up is the Solana-based memecoin dogwifhat (WIF). According to Bluntz, who regularly applies the Elliott Wave theory in his technical analysis, WIF has potentially ended a short-term downtrend on the one-hour chart after completing a five-wave pattern within the last wave of a correctional three-wave pattern.
The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.
Based on Bluntz’s chart, it appears that the analyst sees WIF potentially reaching a price of $2.80 from the current level.
WIF is trading at $2.31 at time of writing.
Next up is the Solana-based low-cap memecoin Myro (MYRO). According to Bluntz, MYRO is set to soar even higher.
“Still the ONLY dog coin under a billion dollars on multiple tier-1 exchanges now, but not for long.
MYRO.”
MYRO is trading at $0.339 at time of writing and has a market cap of slightly over $338 million.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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