An analyst identified for being topped as a “Grasp Dealer” on the crypto trade Bybit believes that a large 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,
“Quite a lot of alts beginning to look loopy good right here, SUI positively considered one of them.”
Based mostly on the dealer’s chart, he appears to foretell that SUI will hit $5.50, a 98% enhance 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 response to 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 totally rekt it might simply 2x within the blink of an eye fixed.
Excessive timeframe bull divergence all over the place so far as the attention can see.”
At time of writing, PYTH is value $0.105.
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