- Bluntz anticipates a rise in Solana’s share price, surpassing $150 based on Elliott Wave theory.
- Sei, Solana’s competitor, could reach new all-time highs above $1, according to market trend analysis.
Bluntz, a cryptocurrency strategist renowned for getting the 2018 Bitcoin market low right, has set his sights on Solana (SOL) and a competitor to it, anticipating a rise in its share price.
In a recent tweet, to his followers on the social network X, he reported that Solana is in the phase of a third wave rally, suggesting it could reach prices not seen since January 2022. According to his analysis, Solana could exceed $150, although he regretted not buying more at $90 as he had planned.
Using Elliott Wave theory, which focuses on the analysis of collective psychologies manifested in waves, Bluntz sees SOL in a strong position. This theory predicts that in an uptrend, assets experience a five-wave rally, with the third wave being the most extended and robust .
Currently, SOL trades at $108.48, indicating an accumulation phase before the expected rise.
In addition to Solana, Bluntz is analyzing Sei (SEI), a project he believes is in the latter stages of its five-wave rally and could set a new all-time high by surpassing $1.
Sei, according to Bluntz, has sufficiently consolidated and is poised for a fifth macro wave on the daily chart, pointing to the $1 area as its next target, with potential to move higher still.