Anticipating a Moonriver Resurgence
Renowned crypto analyst Bluntz has indicated a strong potential rally for the altcoin Moonriver (MOVR), which has surged approximately sixfold in the past three months. Bluntz, known for closely monitoring market trends, shared a chart suggesting that MOVR has completed an ABC correction wave and is poised for a robust ascent towards $40. The analyst remains bullish on MOVR, citing the formation on the chart and the current price range that indicates a potential for a significant upward movement.
Bluntz’s analysis often incorporates the Elliott Wave theory, a technical analysis approach that follows crowd psychology manifesting in wave patterns to predict future price actions. According to this theory, an asset in an uptrend typically completes an ABC correction before embarking on the next wave of movement. At the time of writing, MOVR has seen a 500% increase over the last quarter and is currently trading at $23.83, marking a 2.63% rise in the last 24 hours.
Positive Outlook for Solana and Sei
In addition to MOVR, Bluntz has also been monitoring the price movements of Layer 1 networks Solana (SOL) and Sei (SEI). The analyst commends SOL and SEI as top Layer 1 networks, highlighting their impressive price chart appearances. Bluntz’s comments suggest a strong confidence in the future performance of these cryptocurrencies.
Currently, SOL is experiencing a modest 24-hour increase of 0.16%, trading at $92.58, while SEI has risen by 1.26% within the same time frame, trading at $0.644. The analyst’s focus on these assets underscores their potential for growth and the positive sentiment surrounding their market trajectories.