Crypto analyst Bluntz, respected in the cryptocurrency world, shared his views on potential price movements for Solana (SOL) and Pepe (PEPE), shedding light on developments that could be significant in the market trajectory of these two altcoins.
Bluntz Predicts a Rise for Solana’s SOL
According to Bluntz’s analysis, Solana’s main network asset SOL is showing signs of a bullish formation characterized by higher lows over a four-hour time frame. This observation led to speculation about a potential significant price movement for SOL in the short term.
Using the Elliott Wave theory, which suggests that assets in an uptrend typically experience a three-part ABC correction before a new rise, the analyst believes that SOL, after testing the $120 level, may have completed its ABC correction phase and is now moving within an uptrend.
According to data provided by the cryptocurrency data and price platform CoinMarketCap, SOL has seen a 1.60% increase over the last 24 hours, trading at $159.07.
Technical Analysis Signals a Rise for PEPE
Following SOL, Bluntz turned his attention to PEPE, highlighting an optimistic outlook similar to other leading memecoins. According to the analyst, PEPE’s chart, which made a noticeable jump from a significant Fibonacci level of $0.000004454, indicates a bullish trend.
Highlighting the strong performance of PEPE from the lowest levels of its (a) wave and its adherence to the 0.618 Fibonacci level, Bluntz pointed out the altcoin’s potential to surpass the $0.000013 threshold.
With the latest data, PEPE has risen 17.56% in the last 24 hours, trading at $0.00000802. According to the data, the altcoin has increased by 57.52% over the last 7 days and by 8.71% over the last 30 days.
