The Ethereum price is falling, according to a widely-followed cryptocurrency analyst.ETH) competitor Solana (SOL).
Bluntz is the pseudonymous analyst. tells Bitcoin is no longer a viable option for his 273,500 Twitter followers (SOL) on the social media platform X.BTC) may soon plummet in value.
“SOL/BTC weekly is horrid. Legit, with complacent shoulder and all that looks good to me. Although it’s hard to determine the best on the market, this is still a good place to start.
It’s been a mental disorder to hold that belief all along.
It’s hard to be certain of the direction, but one thing is for sure: this chart appears to be abysmal.”
The Elliott Wave Theory is used to predict price changes based on the crowd psychology manifested as waves. According to the Elliott Wave Theory, price movements occur in waves of five after a three-wave “ABC” corrections. The analyst says that SOL/BTC has started to form the corrective C-wave and could fall below 0.0015 BTC (89.21).
SOL/BTC currently trades for $135.88 (0.0022875 BTC).
Some crypto analysts have a bullish outlook on SOL.
Kaleo, a pseudonymous cryptocurrency trader tells his 645,400 followers on the social media platform X that SOL may be gearing up for a massive breakout after testing lower support levels.
“Nearly there.”
According to his chart, Solana is likely to bottom at below $129 before rallying up towards $220.
Cheds, a pseudonymous analyst and trader is also circulating. tells His 334,600 social media followers on the platform X have informed him that Solana’s price has reached a level historically appealing to buyers. He believes that it could rise soon.
“SOL back to daily demand zone.”
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Source: dailyhodl.com
