The popular crypto analyst and trader, who is widely respected in the cryptocurrency world, remains bullish on an Ethereum that’s currently hot.ETH) competitor.
Bluntz is the pseudonymous analyst. tells Solana has 248,700 social media followers (X) on the platform.SOLAfter a 10x increase since September, ) still has plenty of upside.
“SOL vertical accumulation has ended. Flood gates are open and the channel broken. All-time highs in sight.”
The trader suggests, by looking at his chart that Solana is gaining momentum after breaking out of an ascending channel.
Solana’s price is $179.56 as of the time this article was written, which represents an increase in value by more than 5 percent over the last 24 hour. Solana reached an all-time peak of $259.96 back in November 2021.
A trader is also says Solana has outperformed Bitcoin (SOL/BTCEthereum (SOL/ETH).
“SOL/BTC and SOL/ETH already putting in new highs. There is no second best.”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/03/1710589923_423_Analyst-Says-‘Flood-Gates-Are-Open-for-Altcoin-Thats-up.jpeg)
The next step is the trader uses After the recent decline to the middle of $60,000, the Elliott Waves theory predicts Bitcoin to be heading towards around $80.000.
According to the Elliot Wave Theory, the primary trend in the price movement of an asset follows a five wave pattern. A correction occurs in a ABC three-wave pattern.
“Nice divs on BTC here into an ABC retest of prior all-time high with five waves accounted for within the C. Open Interest nuked and funding flat and back to neutral. send it.”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/03/1710589923_590_Analyst-Says-‘Flood-Gates-Are-Open-for-Altcoin-Thats-up.jpeg)
The trader suggests, by looking at his one-hour chart that Bitcoin is now about to start a five wave move upward.
Bitcoin has fallen 3.7% over the past 24 hours, trading at $68,262.
Last but not least, there is the trader says The native token for the Layer-1 Blockchain Sei (SEI) is on the verge of breaking out in a five-wave pattern to as high as $1.60.
“SEI has been a slow burn this week, but finally looks ready in my opinion. Next impulse up about to start in my opinion.”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/03/1710589923_853_Analyst-Says-‘Flood-Gates-Are-Open-for-Altcoin-Thats-up.jpeg)
Sei trades for $1.06, up 24% over the last 24h.
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