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Top Trader Predicts Bullish Continuation for Solana After Corrective Move, Says SOL Remains in Monster Uptrend

November 15, 2023
in Altcoin
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A extensively adopted crypto dealer is predicting that Solana (SOL) will resume shifting to the upside after a sudden retracement.

Pseudonymous analyst Bluntz tells his 228,600 followers on the social media platform X that Solana might soar by greater than 22% from its present worth.

Bluntz makes use of the Elliott Wave principle in his technical evaluation. The Elliott Wave principle states that the primary pattern of the worth of an asset strikes in a five-wave sample.

“Lastly obtained a pleasant three-wave correction on SOL four-hour, all of the late apes washed out.

I believe it’s prepared for the following leg up into $70 and nonetheless very a lot in a monster uptrend in opposition to BTC as properly.”

Supply: Bluntz/X

The dealer additionally says that SOL is exhibiting bullish divergence on the relative power index (RSI), a momentum indicator that merchants use to identify pattern continuation or reversal.

“LTF (low time-frame) divs. (divergence) once more, ship it.”

Image
Supply: Bluntz/X

In line with the dealer, an identical bullish divergence appeared on the RSI earlier this month that preceded Solana’s huge transfer from $38 to above $60.

The dealer stated at the moment,

“LTF divs. on SOL, gimme that sweep hopium.”

Image
Supply: Bluntz/X

Solana soared to a excessive of $62.29 on November eleventh, earlier than dipping all the way down to $52.05 on November thirteenth. Solana is buying and selling for $57.28 at time of writing, a rise of 8.9% within the final 24 hours.

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Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any loses it’s possible you’ll incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in affiliate marketing online.

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Tags: BullishContinuationCorrectiveMonstermovePredictsremainsSOLSolanaTopTraderUptrend
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