Top Analyst Warns Solana Flashing Bearish Signals, Updates Forecast on Sei and One Dogecoin Rival

A crypto analyst who precisely known as Bitcoin’s (BTC) value ground through the 2018 bear market is instantly flipping bearish on Solana (SOL).

Pseudonymous analyst Bluntz tells his 239,000 followers on the social media platform X that Solana is flashing a number of bearish indicators on the day by day chart after rallying to a seven-day excessive of round $106.

In accordance with Bluntz, Solana might lose greater than 10% of its worth from present ranges earlier than carving a backside and restarting its uptrend.

“[Five-wave] up seen on day by day for SOL and a bearish SFP (swing failure sample).

HTF (excessive time-frame) construction nonetheless appears to be like nice however don’t be stunned if we pull again right here again into the excessive $80s.” 

Bluntz practices the Elliott Wave concept, a technical evaluation method that makes an attempt to foretell future value motion by following crowd psychology that tends to manifest in waves. In accordance with the speculation, a bullish asset goes via a five-wave surge earlier than coming into a three-wave corrective interval.

Wanting on the dealer’s chart, he appears to counsel that SOL has accomplished a five-wave rally and is now within the means of a three-wave pullback.

Bluntz additionally notes that yesterday’s day by day candle appears to be like like a swing failure sample, when SOL bulls tried to push costs increased however had been negated by promoting strain.

At time of writing, SOL is value $100, down greater than 6% from yesterday’s excessive of $106.14.

The crypto strategist can be trying on the value motion of Solana competitor Sei (SEI). In accordance with Bluntz, SEI has accomplished an ABC correction on the four-hour chart and is now gearing up for an enormous surge.

“SEI has been vertically accumulating for every week.

Ship it to $1 put up haste.”

At time of writing, SEI is buying and selling for $0.692.

Lastly, Bluntz is predicting rallies for the meme asset dogwifhat (WIF). The analyst thinks that WIF is finished consolidating and is prepared for large bursts to the upside.

“Think about considering the WIF commerce is over and never considering it goes up and to the appropriate.” 

At time of writing, WIF is buying and selling for $0.282, suggesting an upside potential of almost 400% if the memecoin hits the analyst’s goal of $1.40.

Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox

Test Value Motion

Observe us on Twitter, Facebook and Telegram

Surf The Every day Hodl Combine

Generated Picture: Midjourney