Renowned Crypto Analyst Sets Price Targets for Solana & Arbitrum

A prominent analyst in the cryptocurrency sphere has highlighted an emerging potential for significant upward movement in a popular altcoin. The trader known as Bluntz recently discussed Solana ( ), identifying what appears to be an ABC corrective pattern within its current trajectory. Employing the Elliott Wave theory, Bluntz aims to forecast future price movements by tracking collective market psychology, often observed in wave patterns. As per the theory, an asset with bullish prospects typically experiences an ABC correction wave before initiating the next upward surge. Expressing enthusiasm amidst apparent skepticism surrounding SOL, Bluntz hinted at the anticipation of numerous pessimistic tweets about SOL’s downfall and the subsequent rapid reversal towards $140. Solana’s current trading price stands at $104.42, representing a significant rise from its earlier year values below $10. Maintaining an optimistic outlook despite SOL’s recent drop from nearly $124 to around $113 and a temporary dip below $100, the trader foresees the likelihood of SOL surpassing previous highs. Emphasizing the momentum of SOL’s uptrend, the trader advises aligning strategies with the prevailing market direction. Furthermore, the trader also indicates a positive outlook for Arbitrum ( ), an layer-2 scaling solution, suggesting an imminent upsurge following an ABC corrective wave.