A top trader who nailed Bitcoin\u2019s (BTC<\/a>) 2018 bear market bottom believes that the floodgates will open for Solana (SOL<\/a>) once it takes out the resistance of its multi-month accumulation range.<\/p>\n Pseudonymous analyst Bluntz tells his 225,200 followers on the social media platform X that Solana looks poised for a breakout against Bitcoin (SOL\/BTC) and the US dollar.<\/p>\n \u201cVery impressed with SOL price action this week.<\/em><\/p>\n Today\u2019s price action is most likely a breakout on the BTC pair and [it\u2019s] looking like a whole year of accumulation on not just USD but SOL\/BTC is close to coming to an end.<\/em><\/p>\n Once it breaks $32, the floodgates get unleashed. That is still 20% higher but looking very promising in terms of high time frame structure.\u201d\u00a0<\/em><\/p>\n Looking at the trader\u2019s chart, he seems bullish on SOL\/BTC after the pair printed higher-low structures while moving above a diagonal resistance. At time of writing, Solana is worth $29.44 and SOL\/BTC is trading at 0.00098 BTC.<\/p>\n Bluntz is also bullish on Ethereum (ETH<\/a>). According to the analyst, Ethereum may be setting up for a rally after respecting support at $1,550 and printing a bullish higher-low setup.<\/p>\n \u201cETH\/BTC has been absolutely demolished lately but ETH\/USD is not only well and truly back in the range it broke down from but has also put in a higher low in the process.\u201d\u00a0<\/em><\/p>\n At time of writing, Ethereum is worth $1,632.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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