Leading Trader Forecasts Significant Solana (SOL) Surge, Suggests Ethereum (ETH) is Preparing for an Impressive Breakout

A trader who correctly called the bottom for Bitcoin (BTC) during the 2018 bear market says that Ethereum (ETH) rival Solana (SOL) is setting up for a meteoric price appreciation.

The pseudonymous analyst Bluntz has alerted his 223,500 Twitter followers to the possibility of Solana replicating Bitcoin's dramatic surge seen at the beginning of this year.

As per a chart released by the eminent trader, should Solana follow his predictions, the smart contract platform may witness a surge close to $100 by October.

He stated, "I'm seriously considering becoming fully committed to SOL (maximalist) for a few months. The cleanest upward channel breakouts I've observed since BTC's rise in January at $18,000."

Source: Bluntz/Twitter

At the moment, SOL is being traded at $25.71, indicating a potential upside of more than 288% if it reaches Bluntz's predicted target.

Turning to Ethereum, the cryptocurrency analyst suggests that the foremost altcoin appears ready to orchestrate a substantial breakout rally against Bitcoin (ETH/BTC).

"The almost year-long ETH/BTC wedge breakout will be...remarkable. For what it's worth, I believe it has likely bottomed out already and would be extremely attractive above 0.07 BTC ($2,101). I don't think many people are prepared for this and it may catch them completely by surprise."

Source: Bluntz/Twitter

The trader's chart suggests that ETH/BTC could potentially escalate to a peak of 0.112 BTC ($3,362). As of the time this was written, ETH/BTC is valued at 0.06337 BTC ($1,902).

Turning to Bitcoin itself, Bluntz believes that BTC is poised for a rebound at the very least, after a temporary dip below $30,000.

He states, "The short-term trends for BTC definitely look encouraging, with a reclaim of the short-term range that we just descended from, after testing the lower end of the longer-term range.

In my opinion, the worst-case scenario would be a few days of growth, while the best case would be reaching new highs."

Source: Bluntz/Twitter

As of the time this was written, the value of BTC stands at $30,021.

Jul 19, 2023

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