An experienced analyst in the cryptocurrency market, known as Bluntz and holding the title of “Master Trader” at Bybit exchange, has suggested potential upward trends in Solana 
$139 (SOL) and several altcoins in the coming period. Recently, he announced to his over 321,000 followers on social media platform X that Solana has broken its long-standing downtrend upwards.
Signs of Growth in Solana
In his analysis, Bluntz pointed out that Solana surpassed a diagonal resistance level, which had been pushing its prices down since the end of May. The analyst anticipates positive weekly movements for SOL and the other projects in its ecosystem following this technical development.
Bluntz: “We observed a nice downtrend break in SOL. Projects within the SOL ecosystem are also looking promising again.”
According to market data, at the time of writing, SOL is trading at the $152 level.
Pudgy Penguins and Altcoins Poised for Gains
One of the projects the analyst closely monitors is the NFT-based altcoin Pudgy Penguins (PENGU). Bluntz noted that PENGU broke out upwards from a descending wedge pattern, suggesting this might mark the beginning of a strong upward trend. Based on technical indicators, he emphasized that short-term significant increases in the PENGU price are possible.
Bluntz: “We saw extraordinary growth in PENGU. The chart is quite compelling, and much higher levels are within potential reach.”
Bluntz’s analysis indicates that PENGU might rise to as high as $0.025. Currently, PENGU is at $0.014, having gained more than 6% over the last 24 hours.
Indications of Altcoin Strengthening Against Bitcoin
Bluntz noted signs of strengthening in altcoins, not only in Solana and PENGU, but across the board against Bitcoin (BTC) 
$91,081. He highlighted a negative divergence observed in the Bitcoin Dominance (BTC.D) chart over a three-day timeframe. Such a technical setup might signal that the market share of altcoins could increase relative to Bitcoin.
Bluntz: “BTC.D shared without comment.”
According to the latest data, Bitcoin dominance is reported to be at 65.45%. This percentage indicates Bitcoin’s share within the total cryptocurrency market, and analysts interpret a decreasing trend in this figure as a positive signal for altcoins.
Considering the volatility in price movements in the cryptocurrency market, it is recommended that investors closely follow market analyses and proceed cautiously based on developments. Despite positive signals from technical indicators, cryptocurrencies are characterized by high risk. Cryptocurrency market experts stress the importance of conducting thorough research before making investment decisions.
