Solana’s SOL token has had a rocky start to 2024 after a parabolic Q4 in 2023 However, popular crypto analyst Bluntz believes the token is primed for a leg up. In a recent tweet, Bluntz stated:
“I think $sol might be gearing up for a leg up to 140+, this downtrend has been tested too many times now for me to consider bearish and cant ignore the clear 3 wave move down from the highs looking corrective. looks like the past 2 week range has been a base, send it.”
Bluntz is seeing signs of a bullish reversal on the SOL charts. After repeatedly testing the recent downtrend around the $100 level, Bluntz believes the chart pattern appears corrective rather than indicative of a long-term bearish trend. The consolidation range of the past two weeks is acting as a base, preparing SOL for its next major rally according to Bluntz.
A move up to $140+ would signify a 40%+ gain from current levels near $100. Bluntz has over 230k X followers and has established himself as an insightful crypto market analyst, so his bullish call carries significant weight.
As a top 10 cryptocurrency, Solana has immense upside potential if the current crypto bear market begins to reverse course. With its focus on speed and scalability, Solana is well positioned to capture investor interest in 2024 and beyond.
Meme Coin WIF Consolidates Before Next “Full Send”
In addition to his Solana analysis, Bluntz also took to X (Twitter) to discuss fledgling meme coin WIF. According to Bluntz:
“Very healthy consolidation range beneath prior ATH on $WIF you better believe once we get out of this range its going to full send.”
Trading around $0.40, WIF has rocketed over 140% higher in the last week to reach a market cap of $400 million. However, Bluntz believes WIF is simply consolidating beneath its all-time high before making its next major upside move.
As a meme coin competing in a hot niche of the crypto industry, WIF possesses plenty of speculative upside, especially considering its still relatively low market cap. With momentum and hype behind it, Bluntz thinks WIF breaks out of its recent range to “full send” to new highs.
If WIF can capture investor and trader interest like other popular meme coins, its market cap could exponentially increase in 2024. WIF will need to stand out from the crowd, but the ingredients are there for massive short-term rallies.
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