Trader names a digital token that will grow by more than 50%

A trader who predicted that bitcoin would bottom out during the 2018 bear market believes that one of its rivals is ready for a big jump up. The Bluntz analyst told his 238,500 followers on the X platform that Solana has completed the ABC correction wave.

According to the expert, Solana will start a new five-wave rally, as a result of which the token can grow by about 50% from current prices. «SOL has regained its breakout range, and the move to $ 150 is now basically confirmed. The bears are about to learn the true meaning of pain,» Bluntz wrote.

The analyst uses the Elliott Wave Theory, an approach to technical analysis that attempts to predict future price action by following crowd psychology, which tends to manifest itself in the form of waves. According to the theory, a bullish asset often goes through an ABC correction before launching a five-wave upward movement.

At the time of writing, SOL’s price is $ 102.89, up 6.2% over the past 24 hours.

The analyst is also keeping an eye on the Ethereum-compatible asset Moonriver (MOVR). According to Bluntz, MOVR looks bullish after the ABC correctional move is over. «MOVR looks amazing, flying under the radar.»

Some experts believe that the token may be ready for further growth, as does popular analyst Ali. He presented a chart in which SOL is «breaking out» of a certain downward parallel channel. The analyst claims that holding above $ 94 could lead to a price increase to $ 113.