An analyst who has earned the Master Trader on the Crypto Exchange Bybit, thinks that Solana (SOL) looks good after repairing an important level of support.
Pseudonymous Analyst Bluntz tells Are 319,800 followers on the social media platform X that Solana flashes a swing error pattern (SFP) on the four -hour graph after losing support for $ 160 at the end of May, just to restore the price level days later.
An SFP is usually seen as a reversing pattern, and in the case of Solana the inability of bears to push the prices lower indicates, indicates a failure to maintain downward momentum, making a shift in market sentiment possible.
Says Bluntz,
“I really like the reaction of the Sol after taking the lows, now to a recover, still early days, but promising in my opinion. If this is back, it’s time.”
At the time of writing, SOL acts at $ 160.33, slightly above the most important support level of the trader.
The analyst is also bullish about the artificial intelligence (AI) -oriented crypto project AI16Z (AI16Z). According to Bluntz, the Altcoin seems to have completed An ABC correction on the daily graph, which suggests that the coin has printed a sustainable soil.
Bluntz practices the Elliott golf theory, which states that an active is being prepared to ignite rallies after completing an ABC correction.
“Of all my alt scans this morning, AI16Z has the most impulsive five-golf increase on high timetables from April and now a very clean, clear three-golf ABC back in the big 0.618.
It doesn’t get more textbook than this. I think that is an important soil for this one. “
At the time of writing, AI16Z is worth $ 0.25.
The last coin on the trader’s radar is Gigachad (Giga), a memecoin built on the Solana -Blockchain. Blunt out Giga seems to follow in the footsteps of fellow Memecoin SPX6900 (SPX), an Altcoin that has risen around 360% since the soil in March in March.
“In my opinion, Giga looks pretty good, so many similarities.
I love it or hate it, Murad -coins look tough. ‘
At the time of writing, Giga is worth $ 0.23.
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Generated image: midjourney