During the strong bear market of 2018, the cryptocurrency analyst Bluntz, known for predicting the price level at which Bitcoin (BTC) would bottom out and his prediction coming true, is expecting a strong rally in Chainlink (LINK), which operates on the Ethereum (ETH) network. The analyst also revealed that he is expecting a rally in Solana (SOL).
Bluntz Anticipates $20 for Chainlink
The anonymous cryptocurrency analyst Bluntz told his followers on social media platform X that Chainlink’s (LINK) eight-hour price chart is showing multiple bullish signals. The analyst noted that LINK could rise to the $20 level last seen in January 2022, stating:
LINK swept the $13.9 one last time, pulled down the fifth wave for the C move, and also made a nice high timeframe bullish breakout. I believe this is currently a big fourth wave. It’s marching towards $20.
Bluntz’s analysis is based on the Elliott Wave theory, a technical analysis method that tries to predict future price movements by following the crowd psychology that tends to manifest in waves. According to this theory, an asset on the rise performs a five-wave rally, with each wave having its own sub-waves.
Strong Uptrend Prediction for Solana
Following Chainlink, Bluntz turned his attention to the leading smart contract platform Solana’s SOL, believing that the altcoin is preparing for a significant breakout against Bitcoin (SOL/BTC). The analyst emphasized that SOL could also potentially experience a strong rally in its USD trading pair, saying:
The SOL/BTC trading pair is trying to break the bull flag formation after resting for a few days. When the 37-day range is broken, SOL will make a sharp rise. It will probably be the steepest rise to date. Don’t listen to what the bears say; they hate money.
At the time this article was prepared, SOL/BTC was trading at 0.0017526 BTC ($75), which is quite close to the resistance level of 0.0018 BTC ($77.06) pointed out by the analyst.
