The anonymous and influential crypto analyst Bluntz has shifted his perspective on Solana (SOL), signaling a potential decline. Despite Solana’s recent peak, Bluntz suggests a downturn might be imminent, with the possibility of losing over 10% from its current value before finding a bottom and rebounding.
Bluntz’s prediction for Solana’s dip is rooted in the Elliott Wave theory, which anticipates price movements based on psychological patterns that manifest in waves. He interprets the current chart as showing SOL completing a five-wave rally and entering a corrective phase, supported by a recent daily candle that indicates a failed attempt by bulls to elevate prices.
Insights on SEI and WIF
In contrast to his outlook on Solana, Bluntz is bullish on Sei (SEI) and Dogwifhat (WIF). He sees SEI, a potential Solana competitor, as primed for a substantial increase, with charts suggesting the completion of a correction and readiness for a significant surge, potentially up to $1.
For WIF, a Solana-based memecoin, Bluntz anticipates a rally following its consolidation period. He projects a major breakout for WIF, with a target of $1.40, which would mark a 400% rise from current levels.
Investors and enthusiasts in the cryptocurrency space often track Bluntz’s analyses, as his predictions can influence market sentiment and investment strategies. The contrasting forecasts for SOL, SEI, and WIF showcase the dynamic and speculative nature of the crypto market.