Ethereum

Solana

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 A top crypto strategist who’s been making timely altcoin calls as of late thinks that one Ethereum (ETH) challenger is close to printing a local bottom.
 Pseudonymous analyst Bluntz tells his 254,000 followers on the social media platform X that he’s bullish on Solana (SOL).
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 According to the top trader, he sees Solana carving a bottom against Bitcoin (SOL/BTC) at around 0.0025 BTC ($179.57) before igniting fresh rallies.
 “SOL/BTC super close to putting in a bottom in my opinion, just needs to sweep these lows one last time on hourly to put in that five of C.”&nbsp;
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 Source: Bluntz/X
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 Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to witness a new leg up after completing an ABC corrective wave. Looking at the trader’s chart, he seems to suggest that the C wave is about to end soon, paving the way for a rally above 0.003 BTC ($215).
 At time of writing, SOL/BTC is trading for 0.002519 BTC ($180.94).
 As for Solana against the US dollar, Bluntz expects SOL to witness more sideways consolidation before sparking a rally to a new 2024 high of $230.
 “Open to the possibility of a sideways correction on SOL here, mainly because I think SOL/BTC looks like it’s already done an ABC and has swept the lows and very close to a bottom, and if that bottoms would make no sense for SOL/USD to sweep down lower below $160.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GKhK2vnaUAER5to?format=jpg&amp;name=large" alt="Image" width="1256" height="1146">
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 Source: Bluntz/X
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 At time of writing, SOL is worth $180.64.
 Bluntz is also naming one altcoin that he believes would trigger rallies for Solana-based non-fungible tokens (NFTs).
 “TNSR airdrop…likely kickstarts SOL NFT season in my opinion.
 People who don’t like buying jpegs will happily buy the token, and NFT bros who do like jpegs [will] likely sell their stimmy (airdropped tokens) to buy more jpegs.
 Flywheel effect.”&nbsp;
 TNSR is the governance token of Tensor, the most popular NFT platform on Solana. Eligible users can now claim their free TNSR tokens via the Jupiter (JUP) LFG launchpad.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-analyst-says-ethereum-rival-super-close-to-bottoming-out-sees-one-altcoin-kicking-off-nft-season-for-solana-tbt84967.html">https://thebittimes.com/top-analyst-says-ethereum-rival-super-close-to-bottoming-out-sees-one-altcoin-kicking-off-nft-season-for-solana-tbt84967.html</a>

Top Analyst Says Ethereum Rival Super Close to Bottoming Out, Sees One Altcoin Kicking Off NFT Season for Solana

TheBitTimes

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