All articles tagged with #elliott wave theory
A prominent crypto analyst, Bluntz, has turned bearish on Solana (SOL), predicting a potential decline of over 50% from its current price of $165 to around $80. Using Elliott Wave Theory, Bluntz suggests that SOL has completed a five-wave rally and is now likely to enter a corrective phase, indicating a macro lower high at $188.
Solana's (SOL) price has recently broken out from a corrective pattern, with analysts predicting a potential upward move to $150. The future trend of SOL will be determined by its price movement this week, particularly around the $100 resistance area. Technical analysis, including the daily RSI and Elliott Wave theory, suggests that the reaction to the $100 resistance area will be crucial in determining whether SOL will experience a significant increase to $155 or a drop to complete wave four at $72. As always, readers are advised to conduct their own research and seek professional advice before making any financial decisions.
A trader who accurately predicted Bitcoin's 2018 bear market bottom is outlining a price path to $60,000 for BTC. Using the Elliott Wave theory, the trader suggests that Bitcoin is currently in a wave three rally, with a projected end at $50,000 before a wave-four correction to $42,500. The trader also predicts that Bitcoin will reach $60,000 for the fifth and final wave by September 2024. Additionally, the trader is bullish on Solana (SOL), expecting a steep rally after a local bottom at around $55.
Crypto strategist Credible predicts that Bitcoin is in the early stages of a major bull run following a long consolidation period, with a fifth wave surge already underway. Using the Elliott Wave theory, Credible predicts a massive Bitcoin rally towards $130,000 by the end of the year. At the time of writing, Bitcoin is trading at $28,181.