Analyst Predicts Bullish Outlook for Solana (SOL) and Other Cryptocurrencies
An analyst who has achieved the Master Trader rank on the crypto exchange Bybit has shared insights on Solana (SOL) and other cryptocurrencies.
Bluntz, a pseudonymous analyst with a significant following on X, notes that Solana has shown promise by recovering a key support level after a recent dip. The analyst points to a swing failure pattern (SFP) on the four-hour chart, indicating a potential reversal in market sentiment.
Bluntz expresses optimism about Solana’s current trajectory, stating, “If this reclaims, it’s go time.”
As of the latest update, SOL is trading slightly above the key support level at $160.33.
Additionally, Bluntz shares insights on ai16z, an artificial intelligence-focused crypto project, and Gigachad (GIGA), a memecoin on the Solana blockchain. Bluntz highlights potential bullish trends in these altcoins based on technical analysis.
For ai16z, Bluntz points to an ABC correction on the daily chart as a sign of a durable bottom, while for GIGA, similarities with the performance of SPX6900 suggest a positive outlook.
At the time of writing, ai16z is valued at $0.25, and GIGA is priced at $0.23.
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Image credit: Midjourney