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A cryptocurrency analyst who actively monitors the digital asset market predicts new records for Solana SOL $101.93 Solana -3.29% Market capitalization $59.64 billion VOL. 24 hours $0.23 billion and the possible end of the current Bitcoin growth cycle BTC $77,768.88 Bitcoin -0.37% Market capitalization $1.56 trillion VOL. 24 hours $0.77 billion .
According to the trader, who goes by the pseudonym Bluntz, Solana has completed an ABC pattern correction on the four-hour chart. This, according to Elliott’s theory, could signal a new growth momentum. The crypto expert expects SOL to reach $ 320, while its current value is $ 226.
As for bitcoin, the analyst suggests that the cryptocurrency is also completing a correctional phase. According to his forecasts, BTC may drop to $ 96,000 before the last jump up. He notes that bull markets often end with so-called «ending diagonals,» which can push the price of BTC to $ 130,000. Currently, Bitcoin is trading at $ 105,446.
The analyst emphasizes that these forecasts are based on technical analysis, and the crypto market remains very volatile. He urges investors to conduct their own research before making financial decisions.