Bitcoin‘s (BTC) price level prediction for 2018 made the cryptocurrency analyst Bluntz famous, and now he has made an ambitious forecast for the decentralized exchange (DEX) Injective’s altcoin INJ. The analyst expects the altcoin to refresh its record and rise to a new all-time high.
Analyst Believes Injective’s INJ is Ready for a New Record Level
Anonymous cryptocurrency analyst Bluntz told his followers on social media platform X that Injective’s (INJ) four-hour price chart showed a bullish breakout. Investors often closely monitor bullish breakouts as they can indicate the end of a correction movement. Bluntz shared a chart suggesting that INJ could be preparing to rise to a new all-time high of $47, adding the following note:
INJ has been an asset I’ve been trying to position in for a while but it kept rising, I couldn’t get in. Finally, there was a nearly 25% drop and here we have a nice bullish breakout confirmed on the four-hour timeframe.
At the time this article was prepared, INJ was trading at $36.24, down 4.77% in the last 24 hours. The price reaching $47 would correspond to an increase of about 30%, which is quite remarkable.
Solana, Avalanche, Sei, and Sui: Expected to Rise Again
Bluntz is also closely monitoring the price movements of four Layer 1 altcoins: Solana (SOL), Avalanche (AVAX), Sei (SEI), and Sui (SUI). The analyst believes that the native assets of these networks are ready to ignite the next rally:
All Layer 1s seem to be warming up again: Solana (SOL), Avalanche (AVAX), Sei (SEI), and Sui (SUI).
The analyst, taking a closer look at SUI in particular, underlines that he expects the altcoin to rise more than 28% from current prices, saying “SUI is preparing to rise to the next target level of $1 and beyond.”
