An analyst known for being crowned as a “Master Trader” on the crypto exchange Bybit believes that a huge upside move is in sight for one Solana (SOL) rival.
Pseudonymous analyst Bluntz tells his 321,600 followers on the social media platform X that the native asset of the layer-1 protocol Sui (SUI) is in the midst of a new five-wave rally after completing an ABC correction.
[adinserter block="1"]The trader utilizes the Elliott Wave theory in his technical analysis. The theory states that a bullish asset tends to witness a five-wave surge after completing an ABC pullback.
Says Bluntz,
“A lot of alts starting to look crazy good here, SUI definitely one of them.”
Based on the trader’s chart, he seems to predict that SUI will hit $5.50, a 98% increase from its current value of $2.77.
Another altcoin on the trader’s radar is the Solana-based decentralized oracle Pyth Network (PYTH). According to Bluntz, PYTH is flashing a bullish divergence on the weekly chart, indicating that a massive bullish reversal is in play.
“Liking PYTH here, Solana ecosystem is so utterly rekt it could easily 2x in the blink of an eye.
High timeframe bull divergence everywhere as far as the eye can see.”
At time of writing, PYTH is worth $0.105.
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