Analyst Says Solana (SOL) is 113% Away from ATH, Suggests Buying Dips All The Way To This Price

Crypto trader Bluntz Capital offered some perspective on those anticipating an imminent top in Solana’s native token SOL after its parabolic uptrend in 2023. Despite rallying over 914% year-to-date, SOL still trades roughly 113% below its all-time high from November 2021 above $260.

In Bluntz’s view, calling a top with SOL more than doubling away from historic peaks makes little sense in the context of crypto market cycles. Coins that lead each bull run tend to massively overshoot old highs before exhausting upside momentum.

Source: CoinStats – Start using it today

As one of this cycle’s darling layer 1 blockchain projects thus far, Bluntz expects Solana to continue appreciating steadily as adoption expands. Rather than overthinking short-term moves by constantly trying to identify swing highs, he advocates simply accumulating any notable dips.

History remembers the investors who maintained exposure over years, not traders who successfully timed brief pullbacks before missing larger moves, Bluntz contends.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

With fundamentals and momentum aligning for substantially higher prices, he sees no reason to prematurely call an end to SOL’s bull run. Bluntz believes periodically buying dips offers a straightforward formula for riding Solana’s upside toward the inevitable new all-time highs beyond $400.

Attempting to trade counter-trend carries far more downside risk if SOL resumes climbing before one can reenter. Hence, Bluntz encourages embracing Solana’s leadership position rather than fighting the upside. Its blockchain activity and developer traction support much greater adoption and valuations, according to bulls.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.