Solana

Avalanche

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 A trader who accurately called Bitcoin’s (BTC) 2018 bear market price floor thinks that a steep rally is in sight for one Solana (SOL) challenger.
 Pseudonymous analyst Bluntz tells his 231,700 followers on the social media platform X that the smart contract platform Sui (SUI) looks ripe for rallies after breaking out of its accumulation range.
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 The trader shares a chart that shows SUI rising over 122% from current prices.
 “Month-long accumulation break on SUI/USD pair.
 Despite this, the BTC pair is still accumulating. This starts going parabolic soon in my opinion.
 Still very much early on this but not for much longer.”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GBBwotyaUAAVFDs?format=jpg&amp;name=large" alt="Image" width="1996" height="1702">
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 Source: Bluntz/X
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 Bluntz practices the Elliott Wave theory, an advanced technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> method that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset tends to witness a five-wave rally.
 Looking at the trader’s chart, he seems to predict that SUI will climb to as high as $1.40 before ending its five-wave surge. At time of writing, SUI is worth $0.63, still above the trader’s accumulation range.
 As for Solana, Bluntz thinks that SOL will follow in the footsteps of Avalanche (AVAX), an altcoin that’s up over 90% this month.
 “AVAX is now well and truly playing catch up and outpacing SOL by a mile but both have identical structures but AVAX is moving harder and faster. Good glimpse into the future for what is to come though.”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GBHEHtPaEAA9ClE?format=jpg&amp;name=large" alt="Image" width="1986" height="1561">
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 Source: Bluntz/X
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 At time of writing, SOL is trading for $71.30.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-trader-predicts-parabolic-rally-for-solana-competitor-here-s-his-upside-target-tbt73492.html">https://thebittimes.com/top-trader-predicts-parabolic-rally-for-solana-competitor-here-s-his-upside-target-tbt73492.html</a>

Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

TheBitTimes

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