An anonymous analyst known as Bluntz is making a bold prediction regarding Solana (SOL), a competitor of Ethereum (ETH). Bluntz, who has a substantial following of 256,800 on X, a social media platform, believes that SOL is on the verge of experiencing a significant breakout. According to him, SOL is showing a bullish pattern on the four-hour chart, with higher lows being set. Bluntz confidently states, “SOL gearing up for a violent breakout here in my opinion.”
In addition to analyzing the chart, Bluntz incorporates Elliott Wave theory into his analysis. This theory suggests that a bullish asset often experiences a surge after a three-part ABC correction. Based on his chart, Bluntz suggests that SOL has completed the ABC correction after retesting the $120 level. At the time of writing, SOL is trading at $159, reflecting a 3% increase in the last 24 hours.
Moving on, Bluntz also shares his insights on Pepe (PEPE), another cryptocurrency. He believes that PEPE is currently in a bullish uptrend after rebounding from a key Fibonacci level at $0.000004454. Comparing PEPE to other top memecoins, Bluntz believes that PEPE’s chart looks the most promising. He states, “Of all the major memecoins, Pepe looks the best in my opinion. [Pepe] has already cleared and reclaimed the (a) wave lows after turbo V reversing from the major 0.618 [Fibonacci level].”
Analyzing the chart, Bluntz suggests that PEPE has the potential to surpass the $0.000013 level. Currently, PEPE is trading at $0.000007721, reflecting a significant 14% increase in the last 24 hours.
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