Renowned crypto analyst Bluntz, known for accurately predicting Bitcoin‘s bottom during the 2018 bear market, anticipates a significant rally for Chainlink (LINK) on the Ethereum network. Bluntz also expects a rally for Solana (SOL), expressing his predictions on social media.
Bluntz noted multiple bullish signals for LINK on the eight-hour chart, suggesting that it could revisit the $20 level last seen in January 2022. He mentioned that LINK has swept the $13.9 price point and is moving towards the fifth wave of an upward trend, indicating a potential rise to $20.
The analyst’s predictions are based on the Elliott Wave theory, a technical analysis method that follows crowd psychology to forecast future price movements. According to this theory, an asset on the rise undergoes a five-wave rally, with each wave having its own sub-waves.
Turning his attention to Solana, Bluntz believes the leading smart contract platform’s SOL token is preparing for a significant breakout against Bitcoin (SOL/BTC). He highlighted that after a period of consolidation, SOL is attempting to break out of a bullish flag formation and could experience its steepest rally yet, urging investors to ignore the bears who “hate money.”
At the time of the report, SOL/BTC was trading close to the analyst’s identified resistance level of 0.0018 BTC ($77.06), with the current price at 0.0017526 BTC ($75). Bluntz’s analysis suggests a strong upward trajectory for both Chainlink and Solana in the near future.
