Ethereum

Solana

<div class="dailyhodl">
 <p>A widely followed analyst and trader is expressing bullish sentiment on an Ethereum (ETH) competitor that has soared by triple digits in half a year.</p>
 <p>The analyst pseudonymously known as Bluntz tells his 254,100 followers on the social media platform X that Solana (SOL) appears to have completed a short-term bearish phase when paired against the US dollar.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p>Bluntz, who usually applies the Elliott Wave theory in his technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, says that Solana has bottomed out at around $162 and will now go “higher from here” after completing a three-wave bearish pattern.</p>
 <p>The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.</p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GK1ahXRaIAAyDL3?format=jpg&amp;name=small" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Bluntz/X
  </figcaption>
 </figure>
 <p>Solana is trading at $175 at time of writing, up by 722% from the low of $21.27 reached in October of 2023.</p>
 <p>Against Bitcoin (BTC), the pseudonymous analyst says that Solana is exhibiting a bullish divergence on the four-hour chart with the price of Solana/Bitcoin trending downwards while the Relative Strength Index (RSI) readings are trending upwards.</p>
 <p>The RSI is a momentum oscillator typically used to determine oversold and overbought conditions and its values range from 0 to 100.</p>
 <p>From Bluntz’s chart, it also appears that Solana/Bitcoin has completed a downward-trending five-wave pattern that was encompassed within the final wave a three-wave bearish pattern.</p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GK1aTSRbIAIvLXb?format=jpg&amp;name=900x900" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Bluntz/X
  </figcaption>
 </figure>
 <p>Solana is trading at 0.00243700 BTC ($70,236) at time of writing.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/altcoin-that-s-exploded-over-700-in-six-months-gearing-up-for-the-next-leg-higher-says-top-crypto-analyst-tbt85186.html">https://thebittimes.com/altcoin-that-s-exploded-over-700-in-six-months-gearing-up-for-the-next-leg-higher-says-top-crypto-analyst-tbt85186.html</a></p>

Altcoin That’s Exploded Over 700% in Six Months Gearing Up for the Next Leg Higher, Says Top Crypto Analyst

TheBitTimes

Weitere Artikel, die am 12. Apr. 2024 veröffentlicht wurden

Meme Coins Could Be The Secret Weapon For Web3 Adoption, Says Pantera Capital Investor

Serenity Shield Price Prediction: SERSH Soars 20% As This Green AI Presale Soars To Within A Whis...

Dapper Labs Rocked By SEC’s Explosive Investigation In 2023: Revelations Exposed

Chainlink (LINK) Price Prediction: Is a 30% Decline Next?

The Hottest Sensation: BEFE Coin’s Spectacular Week in the Crypto Spotlight

MiCA’s impact on the future of crypto landscape: expert take

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!