Analyst Predicts 98% Surge for Solana Challenger, 2x Rally for SOL Altcoin
Analyst Predicts Significant Upside for Sui (SUI) Amid Market Recovery
Prominent Trader Highlights SUI’s Potential Surge
A well-known analyst, recognized as a “Master Trader” on the Bybit crypto exchange, is optimistic about the future of Sui (SUI), a competitor to Solana (SOL). The pseudonymous trader, known as Bluntz, recently shared insights with his 321,600 followers on X, suggesting that SUI is currently experiencing a robust five-wave rally following a corrective phase.
Technical Analysis Using Elliott Wave Theory
Bluntz employs the Elliott Wave theory in his market assessments, which posits that a bullish asset typically undergoes a five-wave upward movement after completing an ABC correction. He expressed his enthusiasm for SUI, stating, “Many altcoins are showing promising signs, and SUI is certainly among them.”
Price Predictions for SUI
According to Bluntz’s analysis, SUI could potentially reach $5.50, representing a remarkable 98% increase from its current price of $2.77.
Bullish Outlook for Pyth Network (PYTH)
In addition to SUI, Bluntz is also keeping an eye on Pyth Network (PYTH), a decentralized oracle operating within the Solana ecosystem. He noted that PYTH is exhibiting a bullish divergence on its weekly chart, signaling a possible significant upward reversal.
Bluntz remarked, “I’m optimistic about PYTH; the Solana ecosystem has faced considerable challenges, and it could easily double in value in a short time. There are bullish divergences visible across multiple timeframes.”
Current Value of PYTH
As of now, PYTH is trading at approximately $0.105, indicating potential for growth as market conditions evolve.
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Disclaimer
The views expressed in this article are not intended as investment advice. Investors are encouraged to conduct thorough research before engaging in high-risk investments in cryptocurrencies or digital assets. All trading and transfer activities are undertaken at the investor’s own risk, and any resulting losses are the investor’s responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets and does not serve as an investment advisor.
