- Crypto analyst Bluntz predicts Myro (MYRO) on Solana could surge post $0.45 breakout, potentially multiplying its current valuation.
- Solana expected to appreciate significantly against BTC and ETH after a downtrend, with BTC poised to exceed $120,000.
A lesser-known altcoin named Myro (MYRO), thriving on the Solana (SOL) smart contract platform, has caught the attention of crypto enthusiasts. The pseudonymous analyst Bluntz, with a substantial following on social media, has recently expressed a bullish outlook on MYRO, drawing parallels with the performance of another Solana-based memecoin, dogwifhat (WIF).
Bluntz, who often utilises the Elliott Wave theory to forecast market movements, observes that MYRO’s market behaviour closely resembles that of WIF prior to its impressive 80% rally.
its basically the same chart pic.twitter.com/FhbEqX3IB4
— Bluntz (@Bluntz_Capital) March 13, 2024
For those unfamiliar, the Elliott Wave theory posits that asset prices move in a five-wave pattern during a trend and correct through a three-wave pattern.
At the moment, MYRO’s price stands at $0.24, marking a 35.85% loss on the day. Conversely, WIF’s current value is $2.14, a leap from its price of $1.87 on March 12th.
Bluntz speculates that MYRO is on the verge of a substantial surge, particularly if it surpasses its all-time high of $0.45, potentially triggering rapid growth in its valuation.
Shifting the focus to Solana itself, Bluntz predicts that this blockchain platform is set to experience notable appreciation against Bitcoin (BTC) and Ethereum (ETH). This forecast is based on the completion of a three-wave correction pattern against these major cryptocurrencies.
The anticipated gain is not just in comparison with BTC and ETH; Solana is also expected to see considerable gains in its USD value, especially as Bitcoin’s price is predicted to exceed $120,000 within this cycle.
At the current juncture, Solana’s price is $179, while Bitcoin and Ethereum are trading at $72,917 and $3,950, respectively.
The potential for growth outlined by Bluntz paints an exciting picture for Solana’s trajectory, suggesting that it may be poised for significant upward movement in the foreseeable future.
This analysis serves as a testament to the ever-evolving cryptocurrency market, where diligent observation and strategic foresight can unveil promising opportunities within this digital asset space.
