Solana

Avalanche

<div class="dailyhodl">
 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.
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 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">
 <figcaption class="wp-caption-text">
 Source: Bluntz/X
 </figcaption>
 </figure>
 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">
 <figcaption class="wp-caption-text">
 Source: Bluntz/X
 </figcaption>
 </figure>
 At time of writing, SOL is trading for $71.30.
</div>
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

Other articles published on Dec 13, 2023

Cardano’s ADA Token Surges in Whale Transactions

Coinweb announces $10M grant program and launch of developer tools

Bonk Price Dips Despite Coinbase Listing - Analysts Predict This Ethereum-based Meme Token Could ...

Cartesi Price Prediction: How Far Can CTSI Climb Before 2028?

XRP Price Prediction: XRP Returned to the Demand Zone; What Next?

S&P rates USDC and Gemini’s GUSD as ‘strong’ assets in stablecoin stability assessment

Join our free newsletter for daily crypto updates!