Solana has a bright future in the cards, according to a crypto analyst. Check out the following reports about this below.
Solana new prediction is out
A cryptocurrency strategist, known as Bluntz, who accurately predicted the bottom of the Bitcoin market during the 2018 bear market, believes that Solana (SOL) is preparing for a significant upward movement.
Bluntz told his 234,400 followers on the social media platform X that he sees a bullish reversal pattern forming on the one-hour chart for Solana. He anticipates SOL to consolidate for a short period before launching a parabolic rally.
“Beautiful rounded bottom forming on SOL.
Would not be surprised to see some high timeframe sideways on this before the next mind-blowing parabola leg.”
With Solana now trading well above the pattern’s support, Bluntz predicted an imminent rally for the fifth-largest altcoin by market cap.
“Nice move from the lows so far on SOL.
New highs soon.”
As of now, the price of SOL stands at $107.40. Moving on to another blockchain called Sei (SEI), traders are eyeing it carefully.
According to Bluntz, SEI has shown great potential by achieving a nearly 400% rally in just a few months, making it one of the fastest-growing blockchains this cycle.
“SEI is quickly turning into this cycle’s outperformer.
Should definitely be on everyone’s radar for pullbacks in 2024, in my opinion.”
At time of writing, SEI is worth $0.711, up about 200% since the start of December.
An altcoin that the trader is currently keeping an eye on is Lido DAO (LDO). This cryptocurrency project aims to enable users to stake Ethereum (ETH) without having to lock their assets or maintain infrastructure.
According to an analyst, LDO appears to be ready for a breakout on its US dollar pair, while also indicating a bullish reversal signal on its Bitcoin pair (LDO/BTC).
The analyst added that they have a love/hate relationship with LDO, but believe that it is finally heading towards a price discovery breakout. Additionally, there is weekly bullish divergence on the BTC pair.