An analyst recognized for being topped as a “Grasp Dealer” on the crypto alternate Bybit believes that a large upside transfer is in sight for one Solana (SOL) rival.
Pseudonymous analyst Bluntz tells his 321,600 followers on the social media platform X that the native asset of the layer-1 protocol Sui (SUI) is within the midst of a brand new five-wave rally after finishing an ABC correction.
The dealer makes use of the Elliott Wave principle in his technical evaluation. The idea states {that a} bullish asset tends to witness a five-wave surge after finishing an ABC pullback.
Says Bluntz,
“Lots of alts beginning to look loopy good right here, SUI undoubtedly one in every of them.”
Based mostly on the dealer’s chart, he appears to foretell that SUI will hit $5.50, a 98% enhance from its present worth of $2.77.
One other altcoin on the dealer’s radar is the Solana-based decentralized oracle Pyth Community (PYTH). In accordance with Bluntz, PYTH is flashing a bullish divergence on the weekly chart, indicating {that a} large bullish reversal is in play.
“Liking PYTH right here, Solana ecosystem is so completely rekt it might simply 2x within the blink of an eye fixed.
Excessive timeframe bull divergence in every single place so far as the attention can see.”
At time of writing, PYTH is price $0.105.
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