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Reading: Crypto Analyst Bluntz Expects a Dip in Solana but Predicts Rises for SEI and WIF
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COINTURK NEWS > Altcoin News > Crypto Analyst Bluntz Expects a Dip in Solana but Predicts Rises for SEI and WIF
Altcoin News

Crypto Analyst Bluntz Expects a Dip in Solana but Predicts Rises for SEI and WIF

In Brief

  • Bluntz shifts stance on Solana, signaling a potential drop.

  • SEI and Dogwifhat's WIF are poised for significant surges.

  • Elliott Wave theory underpins Bluntz's predictions.

COINTURK NEWS
COINTURK NEWS 2 years ago
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Investors closely follow the anonymous crypto analyst Bluntz, who has changed his stance on the leading altcoin Solana (SOL), indicating he now expects a downturn. The analyst also analyzed Sei (SEI) and Dogwifhat (WIF), predicting a significant rise for both altcoins.

Contents
Expecting a Drop in SolanaAnalyst’s Comments on SEI and WIF

Expecting a Drop in Solana

The anonymous crypto analyst Bluntz told his followers on social media platform X that Solana showed multiple bearish signals on the daily chart after reaching the highest level of the last seven days at $106. According to Bluntz, Solana could lose over 10% from its current levels before making a bottom and starting a new uptrend. The analyst emphasized that SOL is showing bearish signals in the short term, but still looks great in the long term.

The analyst’s bearish forecast is based on the Elliott Wave theory, a technical analysis approach that tries to predict future price movements by following the crowd psychology that tends to move in waves. According to the theory, an asset that has started to rise goes through a five-wave increase before entering a three-wave correction period. Looking at Bluntz’s chart, it appears that SOL has completed a five-wave rally and is currently in a three-wave pullback process.

Bluntz also noted that yesterday’s daily candle resembled a swing failure formation where SOL bulls tried to push the price up but were rejected by selling pressure.

Analyst’s Comments on SEI and WIF

On the other hand, Bluntz also analyzed Sei, which is seen as a competitor to Solana. According to the analyst, SEI has completed an ABC correction on the four-hour chart and is now gearing up for a major surge, potentially rising quickly to $1.

Finally, looking at the Solana-based memecoin Dogwifhat’s WIF, the analyst expects a rally. Bluntz stated that WIF has completed its consolidation process and is ready for a major breakout upwards, towards a target of $1.40, which corresponds to a 400% increase from current prices.

You can follow our news on Telegram, Facebook & Coinmarketcap & X
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 1 February, 2024 - 11:36 am 1 February, 2024 - 11:36 am
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