Bybit, a crypto-exchange that has a Master Traders rank for analysts who have earned this ranking, believes Solana is (SOL() is looking good following the recovery of a critical support level.
Bluntz, a pseudonymous analyst tells On the social media platform X, Solana’s 319,800 fans reported to him that the swing failure pattern was flashing on the chart for the last four hours after the support level of $160 had been lost at the end in May. However, the price recovered a couple days later.
A SFP pattern is usually viewed as an reversal. In Solana’s case, inability by bears to lower prices indicates that they have failed to maintain downward momentum. This could trigger a change in the market’s sentiment.
Says Bluntz,
“Quite liking the SOL’s reaction after taking the lows, working on a reclaim now, still early days but very promising in my opinion. If this reclaims, it’s go time.”
SOL’s current price of $160.33 is just a little bit above its key support levels.
This analyst also has high hopes for the crypto-project ai16z, which is based on Artificial Intelligence (AI).AI16Z). Bluntz claims that altcoins have a high potential. completed ABC corrections on the daily chart suggest that the coin’s bottom has been printed.
Bluntz follows the Elliott Wave Theory, according to which an asset will be primed for a rally after it has completed an ABC correction.
“Out of all the alt scans I did today, ai16z had the textbook five-wave impulsive ascending pattern on the high timeframes, starting April. Now, it has an extremely clean and clear ABC three-wave back to the major 0.618%.
This is textbook material. This one is at a serious bottom.
As of the date this post was published, ai16z costs $0.25.
The last coin that traders are interested in is Gigachad.GIGA(), a Memecoin that is built on Solana’s blockchain. Bluntz says GIGA seems to have followed in the steps of SPX6900, another memecoin (SPXSince March, the altcoin has risen by about 360%.
There are so many similarities between GIGA and the upcoming GIGA.
“Murad coins are a spicy mix, whether you like them or not.”
GIGA’s current value is $0.23.
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