Solana To Continue Monster Rally, New Predictions Say

It has been just revealed the fact that Solana will continue its monster rally, according to the latest reports. Check out more details about soL predictions below.

A popular crypto trader has predicted that Solana (SOL) will continue its upward trend after a sudden retracement.

Bluntz, a pseudonymous analyst, has informed his 228,600 social media followers that Solana’s value could increase by more than 22% from its current price.

Bluntz employs the Elliott Wave theory in his technical analysis, which suggests that the price of an asset’s primary trend moves in a five-wave pattern.

“Finally got a nice three-wave correction on SOL four-hour, all the late apes washed out.

I think it’s ready for the next leg up into $70 and still very much in a monster uptrend against BTC as well.”

The trader believes that SOL is exhibiting a bullish divergence on the relative strength index (RSI), which is a momentum indicator used by traders to detect trend continuation or reversal.

They stated, “LTF (low time frame) divs. (divergence) again, send it.”

According to the trader, a similar bullish divergence was observed on the RSI earlier this month, which preceded Solana’s significant price increase from $38 to above $60.

The trader said at that time,

“LTF divs. on SOL, gimme that sweep hopium.”

Raoul Pal, an expert in macroeconomics, believes that Solana (SOL), a rival of Ethereum (ETH), is still in the midst of a bullish run, despite its recent surge.

In the latest edition of Pal’s Global Macro Investor (GMI) newsletter, the former Goldman Sachs executive notes that Solana has entered an uptrend after breaking out of a classic bullish pattern.

“SOL broke out from its inverse head-and-shoulders last month and is now up over 475% year-to-date. This has been one of our core trades at GMI (Global Macro Investor) this year and has worked out really well.”