A closely followed crypto investor, Bluntz, expects a strong rally in Moonriver (MOVR), a low-capitalization altcoin that has risen about sixfold in the last three months. The analyst also said that the price charts of Solana (SOL) and Sei (SEI) look fantastic.
Analyst Expects MOVR to Shine Again
Anonymous cryptocurrency analyst Bluntz announced to his followers on social media platform X that he is closely monitoring the MOVR of Moonriver, an Ethereum (ETH) compatible parachain built on Kusama (KSM). Bluntz shared a chart indicating that MOVR has completed an ABC correction wave and is ready for a strong rally towards $40, adding the following note:
I still love and follow MOVR. The formation on the chart and the current price range cause a two-way swing both at the top and bottom. I think MOVR will rise sharply.
Bluntz is generally known for using the Elliott Wave theory, a technical analysis approach that tries to predict future price movements by following the crowd psychology that tends to manifest in waves. According to the Elliott Wave theory, an asset in an uptrend tends to complete an ABC correction movement before starting the next wave motion.
Having risen up to 500% in the last three months, MOVR was trading at $23.83, up 2.63% in the last 24 hours at the time this article was prepared.
Analyst Highlights “They Look Fantastic” for Solana and Sei
Bluntz also said that he is closely monitoring the price movements of Layer 1 networks Solana and Sei. The analyst noted that SOL and SEI are among the best Layer 1 networks because both of their price charts look fantastic.
At the time of writing, SOL was trading at $92.58, up 0.16% in the last 24 hours, while SEI was trading at $0.644, up 1.26% in the same time frame.