Ethereum

Solana

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 A widely followed crypto analyst says that smart contract platform Solana (SOL) has more room to run even after recording triple-digit gains so far this year. 
 Pseudonymous crypto trader Bluntz tells his 230,500 followers on the social media platform X that the Ethereum (ETH) rival could go up by double digits in the coming days. 
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 When paired against Bitcoin, Bluntz says that Solana has formed a bullish setup. The strategist, who applies the Elliott Wave theory in his technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, says that the Solana/Bitcoin pair (SOL/BTC) has completed a bearish five-subwave pattern and is on the cusp of a move that could result in a gain of over 41%. 
 According to the Elliott Wave theory, subwaves can be used to identify potential turning points in the market. A three-wave pattern is labeled as A, B and C while a five-wave pattern is labeled as 1,2,3,4 and 5. 
 “I think Solana is about to rip again. 
 Most important chart I’ve been tracking is SOL/BTC and looks like a nice clean A-B-C done with five subwaves within the C. SOL/USD pair is about to rip another 40% or so again in the coming days in my opinion.” 
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 <img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GAn86I6aUAAq3Ka?format=jpg&amp;name=large" alt="" width="1063" height="499">
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 Source: Bluntz/X
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 Solana is trading at $63.59, a 536% gain from its price of $9.99 recorded at the start of the year, while SOL/BTC is trading for $0.00142. 
 Turning to Bitcoin (BTC), Bluntz says that the flagship crypto asset looks bullish and could reach a price of around $90,000 once a five-wave pattern is completed. 
 “BTC [is] well and truly going parabolic now. Has all the characteristics of a wave-3 underway.” 
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 <img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GAm8Mx6aAAMxrlj?format=jpg&amp;name=large" alt="" width="1063" height="499">
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 Source: Bluntz/X
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 Furthermore, the trader notes that the top crypto asset by market cap appears narrative proof on the macroeconomic scale. 
 “Best part about BTC is it has a bullish narrative for literally whatever happens macro-wise. Rate cuts in ‘24? No worries, BTC pumps because it’s a risk-on asset. More rate rises in ‘24? No worries, BTC pumps because [it’s] deflationary, ultra sound money, flight to quality, digital gold, blah blah blah.” 
 Bitcoin is trading at $43,930 at time of writing, a fractional gain during the last 24 hours. 
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Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/top-crypto-analyst-says-ethereum-rival-that-s-exploded-over-500-year-to-date-is-about-to-rip-again-tbt72922.html">https://thebittimes.com/top-crypto-analyst-says-ethereum-rival-that-s-exploded-over-500-year-to-date-is-about-to-rip-again-tbt72922.html</a>

Top Crypto Analyst Says Ethereum Rival That’s Exploded Over 500% Year-to-Date Is About To Rip Again

TheBitTimes

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