Solana saw its price rise over 7% as a part of its recovery move after failing to break past $63 resistance four days ago. After the rejection, the altcoin dropped to around $51 over a three-day period. However, crypto analyst Bluntz maintained SOL is still in a “monster uptrend.”
Two days ago, Bluntz told his 200k+ followers not to worry about Solana’s pullback. He believes the sell-off allowed weak hands to be “washed out” and SOL to complete a healthy three-wave correction.
Now that Solana has reclaimed its former resistance around $56 as support, Bluntz expects the next leg up to begin soon. With SOL’s price currently around $62, he is targeting $70 for the leading smart contract platform’s next major upside level.
According to Bluntz, Solana remains in a powerful uptrend against Bitcoin, even amid the recent correction. This underscores his bullish outlook on SOL despite its struggles to break out above $63 so far.
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With the crypto market heating up again, Bluntz believes Solana’s monster bull run still has room to run. His analysis suggests patience will pay off for those betting on Solana to continue outpacing Bitcoin and lead altcoins higher.
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