A trader who has reached the bottom of the Bitcoin (BTC) 2018 bear market remains bullish on Solana (SOL) despite the deep corrective move over the past day.
Pseudonymous analyst Bluntz tells his 231,500 followers on social media platform X that Solana is the fastest large-cap coin to recover from a 24-hour low of $68.06.
“Surprise, surprise.
Guess which top 10 [crypto] recovered the fastest.
SOL.”
According to the crypto strategist, the correction shook away over-indebted traders. to make SOL and the rest of the crypto markets are in a position to end the week on a bullish note.
“Open interest completely wiped out, dump early week after weekly close. This was necessary. As far as I’m concerned, we’ll end the week on a higher note.”
Taking a closer look at SOL, the trader believes that the altcoin’s uptrend is far from over. The trader shares a chart showing the SOL rising as high as $150.
“I think this leg on SOL from the low of $51 will be the biggest expansion we have seen yet.
Don’t even get me started on how I look at this from the bottom up, you wouldn’t believe me.
I think there’s still plenty of juice left in the tank.”
At the time of writing, SOL is trading at $70.31, indicating around 100% upside potential if Solana hits the trader’s target.
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Featured image: Shutterstock/Sergey Nivens