Ethereum

Solana

Bitcoin

<div class="dailyhodl">
 <p>A widely followed cryptocurrency analyst and trader is remaining bullish on one red-hot Ethereum (ETH) competitor.</p>
 <p>The analyst pseudonymously known as Bluntz tells his 248,700 followers on social media platform X that Solana (SOL) has a lot more upside potential after soaring 10x since September.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p><em>“SOL vertical accumulation has ended. Flood gates are open and the channel broken. All-time highs in sight.”</em></p>
 <div class="css-175oi2r r-1adg3ll r-1udh08x">
  <div class="r-1p0dtai r-1pi2tsx r-u8s1d r-1d2f490 r-ipm5af r-13qz1uu">
   <div class="css-175oi2r r-1mlwlqe r-1udh08x r-417010" aria-label="Image" data-testid="tweetPhoto">
    <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GIq0LW3a0AAE9US?format=jpg&amp;name=medium" alt="Image" width="1200" height="709">
     <figcaption class="wp-caption-text">
      Source: Bluntz/X
     </figcaption>
    </figure>
   </div>
  </div>
 </div>
 <p>Looking at the trader’s chart, he suggests that Solana’s upward momentum is strengthening after a bullish breakout from an ascending channel.</p>
 <p>Solana is trading for $179.56 at time of writing, up more than 5% in the last 24 hours. Solana hit an all-time high of $259.96 in November 2021.</p>
 <p>The trader also says that another big reason to remain bullish on Solana is that it is outperforming against both Bitcoin (SOL/BTC) and Ethereum (SOL/ETH).</p>
 <p><em>“SOL/BTC and SOL/ETH already putting in new highs. There is no second best.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GIqhOtObEAAWD6d?format=jpg&amp;name=large" alt="Image" width="1264" height="765">
  <figcaption class="wp-caption-text">
   Source: Bluntz/X
  </figcaption>
 </figure>
 <p>Next up, the trader uses the Elliott Wave theory to predict that Bitcoin is heading to around $80,000 after the recent dip to the mid-$60,000 level.</p>
 <p>The Elliot Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction takes place in a three-wave ABC pattern.</p>
 <p><em>“Nice divs on BTC here into an ABC retest of prior all-time high with five waves accounted for within the C. Open Interest nuked and funding flat and back to neutral. send it.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GIs61S0aIAAQ1nM?format=jpg&amp;name=large" alt="Image" width="1259" height="1180">
  <figcaption class="wp-caption-text">
   Source: Bluntz/X
  </figcaption>
 </figure>
 <p>Looking at the trader’s one-hour chart, he suggests that Bitcoin has completed a corrective ABC wave and is about to begin a five-wave move up.</p>
 <p>Bitcoin is trading for $68,262 at time of writing, down 3.7% in the last 24 hours.</p>
 <p>Lastly, the trader says that the native token of the layer-1 blockchain Sei (SEI) is on the verge of breaking out in a five-wave pattern to as high as $1.60.</p>
 <p><em>“SEI has been a slow burn this week, but finally looks ready in my opinion. Next impulse up about to start in my opinion.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GIqkUSLa0AAkT5G?format=jpg&amp;name=medium" alt="Image" width="1200" height="1100">
  <figcaption class="wp-caption-text">
   Source: Bluntz/X
  </figcaption>
 </figure>
 <p>Sei is trading for $1.06 at time of writing, up more than 24% in the last 24 hours.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/analyst-says-flood-gates-are-open-for-altcoin-that-s-up-10x-in-six-months-updates-outlook-on-bitcoin-and-sei-tbt82712.html">https://thebittimes.com/analyst-says-flood-gates-are-open-for-altcoin-that-s-up-10x-in-six-months-updates-outlook-on-bitcoin-and-sei-tbt82712.html</a></p>

Analyst Says ‘Flood Gates Are Open’ for Altcoin That’s up 10x in Six Months, Updates Outlook on Bitcoin and Sei

TheBitTimes

Other articles published on Mar 16, 2024

EU Launches Investigations into AliExpress and LinkedIn Compliance with Digital Services Act

Book of Meme: (BOME) Price Prediction & the Next Altcoin With Huge Potential

Valorant Leak Suggests Game Could Be Coming to Unexpected Consoles

Top Altcoins To Stack As The Market Recovers from Recent Correction

Koala Coin (KLC) Kicks Off with a Bang: Dogecoin (DOGE) and Litecoin (LTC) Enthusiasts Lead the C...

MANTRA’s Test Network Launch and Strategic License Pursuit in Key Markets

Join our free newsletter for daily crypto updates!