Solana

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 A widely followed crypto trader is predicting that Solana (SOL) will resume moving to the upside after a sudden retracement.
 Pseudonymous analyst Bluntz tells his 228,600 followers on the social media platform X that Solana could soar by more than 22% from its current value.
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 Bluntz utilizes the Elliott Wave theory in his technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>. The Elliott Wave theory states that the main <a rel="noopener noreferrer nofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a> of the price of an asset moves in a five-wave pattern.
 “Finally got a nice three-wave correction on SOL four-hour, all the late apes washed out. 
 I think it’s ready for the next leg up into $70 and still very much in a monster up<a rel="noopener noreferrer nofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a> against BTC as well.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F-1pdzxasAAvRdr?format=jpg&amp;name=medium" alt="Image" width="1061" height="1200">
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 Source: Bluntz/X
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 The trader also says that SOL is showing bullish divergence on the relative strength index (RSI), a momentum indicator that traders use to spot <a rel="noopener noreferrer nofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a> continuation or reversal.
 “LTF (low time frame) divs. (divergence) again, send it.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F-2oz6nbAAAo6Kk?format=jpg&amp;name=medium" alt="Image" width="1200" height="1035">
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 Source: Bluntz/X
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 According to the trader, a similar bullish divergence appeared on the RSI earlier this month that preceded Solana’s big move from $38 to above $60.
 The trader said at that time,
 “LTF divs. on SOL, gimme that sweep hopium.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9-RDpuaYAA3USL?format=jpg&amp;name=large" alt="Image" width="1978" height="886">
 <figcaption class="wp-caption-text">
 Source: Bluntz/X
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 Solana soared to a high of $62.29 on November 11th, before dipping down to $52.05 on November 13th. Solana is trading for $57.28 at time of writing, an increase of 8.9% in the last 24 hours.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-trader-predicts-bullish-continuation-for-solana-after-corrective-move-says-sol-remains-in-monster-uptrend-tbt70386.html">https://thebittimes.com/top-trader-predicts-bullish-continuation-for-solana-after-corrective-move-says-sol-remains-in-monster-uptrend-tbt70386.html</a>

Top Trader Predicts Bullish Continuation for Solana After Corrective Move, Says SOL Remains in Monster Uptrend

TheBitTimes

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