A broadly adopted cryptocurrency analyst and dealer is leaning bullish on a Solana (SOL) competitor whereas providing his forecast on Bitcoin and the layer-1 blockchain Saga (SAGA).
The analyst pseudonymously generally known as Bluntz tells his 275,300 followers on the social media platform X that Solana rival Sui (SUI) is about to tear after breaking out from the higher boundary of an ascending channel on the four-hour chart.
Bluntz additionally says that the breakout is coinciding with a surge in buying and selling quantity.
“SUI is severely gonna proceed to tear so exhausting from right here, it’s legit free cash in my view.
These sluggish grinding-up channel breakouts on quantity nearly all the time sign a powerful impulse is underway.
The leaders proceed to guide.”
Based mostly on his chart, it seems that Bluntz is suggesting that SUI may surge to over $2.40, a achieve of round 75% from the present stage.
Sui is buying and selling at $1.37 at time of writing, up by 58% from a low of $0.867 reached a few week in the past.
Subsequent up is Bitcoin (BTC). In line with the pseudonymous analyst, Bitcoin may attain its cycle peak in late 2024 or early 2025.
Bluntz means that Bitcoin is forming a five-wave sample that may culminate in a sudden surge to round $100,000.
In line with Elliott Wave idea, the principle value pattern of an asset strikes in waves of 5 whereas a correction happens in three.
“Don’t fade this subsequent BTC all-time excessive rip, this would be the final macro leg greater, you bought about 3-4 extra months to make as a lot cash as doable.”
Bitcoin is buying and selling at $62,706 at time of writing.
Subsequent up is the native token of the layer-one blockchain Saga (SAGA). Bluntz says SAGA is presently in a “badass” bullish setup and its upside thesis is bolstered by the truth that the venture is at a comparatively low market cap whereas backed by enterprise capital.
Based mostly on Bluntz’s chart, it seems that Saga is forming an inverted head and shoulders on the day by day chart, a bullish sample that means value did not make a decrease low as a consequence of sellers being exhausted.
Saga is buying and selling at $2.35 at time of writing.
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