A trader who nailed Bitcoin\u2019s (BTC<\/a>) 2018 bear market bottom believes that one Ethereum (ETH<\/a>) rival is poised for a big burst to the upside.<\/p>\n Pseudonymous analyst Bluntz tells his 238,500 followers on the social media platform X that Solana (SOL<\/a>) appears to have completed an ABC corrective wave.<\/p>\n Bluntz says that he now expects Solana to start a new five-wave rally that could see SOL printing about 50% gains from current prices.<\/p>\n \u201cSOL reclaimed breakdown range, move up to $150+ now basically confirmed. Bears about to learn the true meaning of pain.\u201d\u00a0<\/em><\/p>\n The analyst practices the Elliott Wave theory, a technical analysis approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset often goes through an ABC correction before launching a five-wave move to the upside.<\/p>\n At time of writing, SOL is trading for $97.24, up nearly 4% in the last 24 hours.<\/p>\n The analyst is also keeping an eye on the native asset of Moonriver (MOVR<\/a>), an Ethereum (ETH<\/a>)-compatible parachain built on Kusama (KSM<\/a>). According to Bluntz, MOVR looks bullish after completing an ABC corrective move.<\/p>\n \u201cMOVR looking amazing here, flying under the radar big-time.\u201d<\/em><\/p>\n Bluntz previously predicted<\/a> that MOVR could rally to as high as $50.<\/p>\n At time of writing, MOVR is worth $23.48, down 4.49% in the past day.<\/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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