An analyst identified for being topped as a “Grasp Dealer” on the crypto trade Bybit believes that an enormous upside transfer is in sight for one Solana (SOL) rival.
Pseudonymous analyst Bluntz tells his 321,600 followers on the social media platform X that the native asset of the layer-1 protocol Sui (SUI) is within the midst of a brand new five-wave rally after finishing an ABC correction.
The dealer makes use of the Elliott Wave idea in his technical evaluation. The idea states {that a} bullish asset tends to witness a five-wave surge after finishing an ABC pullback.
Says Bluntz,
“Numerous alts beginning to look loopy good right here, SUI undoubtedly considered one of them.”
Primarily based on the dealer’s chart, he appears to foretell that SUI will hit $5.50, a 98% improve from its present worth of $2.77.
One other altcoin on the dealer’s radar is the Solana-based decentralized oracle Pyth Community (PYTH). In line with Bluntz, PYTH is flashing a bullish divergence on the weekly chart, indicating {that a} large bullish reversal is in play.
“Liking PYTH right here, Solana ecosystem is so completely rekt it might simply 2x within the blink of an eye fixed.
Excessive timeframe bull divergence in every single place so far as the attention can see.”
At time of writing, PYTH is price $0.105.
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