Solana Faces Bearish Signals: Expert Analyst’s Forecast Shifts for Sei and a Dogecoin Competitor
Renowned crypto analyst Bluntz, famed for accurately predicting Bitcoin’s 2018 bear market floor, has taken a bearish stance on Solana (SOL).
Addressing his 239,000 followers on X, Bluntz asserts that Solana exhibits multiple bearish signals on the daily chart. Foreseeing a potential drop of over 10% before establishing a new bottom and resuming an upward trend. Utilizing the Elliott Wave theory. Bluntz suggests SOL has completed a five-wave rally and entered a three-wave correction phase. Highlighting a swing failure pattern in yesterday’s daily candle, he underscores the possibility of a pullback. Meanwhile, Bluntz is optimistic about Solana competitor Sei (SEI), observing an ABC correction completion and anticipating a substantial surge.
SEI is currently valued at $0.692. Additionally, Bluntz foresees bullish trends for the memecoin dogwifhat (WIF), confident that it has concluded consolidation and is poised for significant upward movement. As of now, WIF trades at $0.282, with a potential 400% upside if it reaches Bluntz’s $1.40 target.
Clever Robot News Desk 1st February 2024
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