Crypto Strategist Bullish on Solana (SOL) as Potential Bottom Nears: Analysis and Predictions
The crypto market is abuzz with excitement as a top strategist predicts that Solana (SOL) is on the verge of hitting a local bottom. Bluntz, a well-known analyst with a large following on social media, has shared his bullish outlook on the Ethereum (ETH) challenger Solana.
Bluntz, who practices the Elliott Wave theory, believes that Solana is close to carving out a bottom against Bitcoin (SOL/BTC) at around 0.0025 BTC ($179.57). According to his analysis, Solana is primed for fresh rallies once it completes the current corrective wave.
At the time of writing, SOL/BTC is trading at 0.002519 BTC ($180.94), and Bluntz expects the pair to rally above 0.003 BTC ($215) in the near future. Additionally, he anticipates that Solana will experience sideways consolidation against the US dollar before surging to a new high of $230.
In a further bullish prediction, Bluntz has identified an altcoin that he believes will catalyze a season of NFT (non-fungible token) rallies on the Solana blockchain. The governance token of Tensor, a popular NFT platform on Solana, is set to trigger a wave of activity in the NFT space.
With the crypto market constantly evolving, investors are advised to conduct their own research before making any investment decisions. The Daily Hodl does not provide investment advice and reminds readers that all trading activities carry inherent risks. Stay tuned for more updates on the exciting world of cryptocurrency.
