An analyst who accurately called the start of Solana\u2019s (SOL<\/a>) correction this year is flipping bullish on the native asset of the layer-1 protocol.<\/p>\n Pseudonymous analyst Bluntz tells his 317,700 followers on the social media platform X that he believes the Ethereum (ETH<\/a>) challenger looks ripe for a significant bounce after losing about 64% of its value from its all-time high of $293, which it hit in January of this year.<\/p>\n According to Bluntz, SOL is flashing a bullish divergence on the daily chart, a reversal signal suggesting that buying momentum is on the up and up even though an asset\u2019s price continues to fall or move sideways.<\/p>\n \u201cStarted bidding some names for bounces today, a lot of bull divs printed on names like SOL, HYPE + many more that have basically gone down -70%+ in a straight line even on large caps.<\/em><\/p>\n Definitely do not subscribe to the idea that this is \u2018THE BOTTOM\u2019, but sizable bounces are highly likely in my opinion.\u201d<\/em><\/p>\n Bluntz also thinks that Solana will outperform Bitcoin (BTC<\/a>) when the market catches a bid. According to the trader, the Solana versus Bitcoin (SOL\/BTC) chart appears to have completed an ABC correction on the weekly chart, suggesting that the pair may have printed a local bottom.<\/p>\n \u201cSOL\/BTC doesn\u2019t look horrid anymore, in my opinion. Finally, at a buyable zone.\u201d<\/em><\/p>\n Bluntz uses the Elliott Wave theory in their analysis, which states that an asset tends to witness a five-wave rally after completing an ABC correction.<\/p>\n At time of writing, SOL\/BTC is valued at 0.00139 BTC, worth $105.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" An analyst who accurately called the start of Solana\u2019s (SOL) correction this year is flipping bullish on the native asset of the layer-1 protocol. Pseudonymous analyst Bluntz tells his 317,700 followers on the social media platform X that he believes the Ethereum (ETH) challenger looks ripe for a significant bounce after losing about 64% of […]<\/p>\n","protected":false},"author":2,"featured_media":388049,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-388047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/388047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=388047"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/388047\/revisions"}],"predecessor-version":[{"id":388050,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/388047\/revisions\/388050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/388049"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=388047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=388047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=388047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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