Cryptocurrency analyst Bluntz, known for accurately predicting Bitcoin‘s 2018 bottom, has made a bold forecast for the decentralized exchange token INJ, anticipating it to reach new all-time highs. Bluntz shared a chart on social media indicating INJ’s potential rise to $47, a significant increase from its current price, after observing a bullish breakout in its four-hour price chart.
Investors often monitor bullish breakouts closely as they can signal the end of a correction phase. Bluntz had been eyeing INJ for a position but missed earlier opportunities due to its continuous rise. A recent nearly 25% drop provided a chance to confirm a bullish breakout in the four-hour timeframe.
At the time of writing, INJ was trading at $36.24, down by 4.77% over the last 24 hours. The predicted price of $47 would represent about a 30% increase, making it a noteworthy target for investors and traders.
Bluntz is also closely watching the price movements of four Layer 1 altcoins: Solana (SOL), Avalanche (AVAX), Sei (SEI), and Sui (SUI). The analyst suggests that these native assets of their respective networks are primed to ignite the next rally.
Focusing particularly on SUI, Bluntz expects the altcoin to surge over 28% from its current price. He believes SUI is gearing up for a climb to the next target level of $1 and beyond.
The anticipation of growth in these cryptocurrencies reflects a broader sentiment of recovery and optimism in the crypto market. Bluntz’s predictions highlight potential opportunities for investors in the decentralized finance space, especially in tokens associated with Layer 1 protocols.