A widely followed cryptocurrency analyst and trader is leaning bullish on a Solana (SOL) competitor while offering his forecast on Bitcoin and the layer-1 blockchain Saga (SAGA).
The analyst pseudonymously known as Bluntz tells his 275,300 followers on the social media platform X that Solana rival Sui (SUI) is set to rip after breaking out from the upper boundary of an ascending channel on the four-hour chart.
Bluntz also says that the breakout is coinciding with a surge in trading volume.
“SUI is seriously gonna continue to rip so hard from here, it’s legit free money in my opinion.
These slow grinding-up channel breakouts on volume almost always signal a strong impulse is underway.
The leaders continue to lead.”
Based on his chart, it appears that Bluntz is suggesting that SUI could surge to over $2.40, a gain of around 75% from the current level.
Sui is trading at $1.37 at time of writing, up by 58% from a low of $0.867 reached about a week ago.
Next up is Bitcoin (BTC). According to the pseudonymous analyst, Bitcoin could reach its cycle peak in late 2024 or early 2025.
Bluntz suggests that Bitcoin is forming a five-wave pattern that will culminate in a sudden surge to around $100,000.
According to Elliott Wave theory, the main price trend of an asset moves in waves of five while a correction occurs in three.
“Don’t fade this next BTC all-time high rip, this will be the last macro leg higher, you got about 3-4 more months to make as much money as possible.”
Bitcoin is trading at $62,706 at time of writing.
Next up is the native token of the layer-one blockchain Saga (SAGA). Bluntz says SAGA is currently in a “badass” bullish setup and its upside thesis is bolstered by the fact that the project is at a relatively low market cap while backed by venture capital.
Based on Bluntz’s chart, it appears that Saga is forming an inverted head and shoulders on the daily chart, a bullish pattern that suggests price failed to make a lower low due to sellers being exhausted.
Saga is trading at $2.35 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Top Trader Says Solana Rival That’s Up 60% in a Week To Keep Ripping Hard, Updates Outlook on Bitcoin and Saga appeared first on The Daily Hodl.
