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Known for predicting Bitcoin‘s (BTC) bottom during the 2018 bear market, cryptocurrency analyst Bluntz is expecting a significant upward explosion for Solana (SOL), which is seen as a competitor to Ethereum (ETH). The analyst also mentioned that he expects Moonriver (MOVR) to rise as well.
Bluntz Points to Solana Surpassing $150
The anonymous cryptocurrency analyst Bluntz told his followers on social media platform X that Solana‘s SOL appears to have completed an ABC correction wave. Bluntz now expects Solana to initiate a new five-wave rally that could yield about a 50% gain from current prices, stating:
SOL has moved beyond the range it had previously fallen to, and a rise above $150 is now fundamentally confirmed. Bears are about to learn the true meaning of pain.
It appears that the analyst is applying the Elliott Wave theory, a technical analysis approach that tries to predict future price movements by following the crowd psychology that tends to emerge in waves. According to the theory, an asset on the rise typically goes through an ABC correction before a five-wave upward movement.
SOL, at the time of writing this article, has risen 6.03% in the last 24 hours to $103.38. With current data, SOL has seen an extremely high increase of 21.89% over the last 7 days.
Keeping a Close Watch on Moonriver’s MOVR
Bluntz is also closely monitoring the native asset MOVR of Moonriver, an Ethereum-compatible parachain built on Kusama (KSM). According to the analyst, MOVR seems to have risen after completing its ABC correction:
MOVR looks great. It’s under my radar and just one of the altcoins that look significantly promising.
Previously, the analyst had predicted that MOVR could rise up to $50. With current data, the altcoin‘s price has seen an increase of 0.86% in the last 24 hours to $23.62, which is approximately 100% below the target level indicated by the analyst.
