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kryptobörsen > News > Altcoin > Analyst Predicts ‘Mind-Blowing’ Parabolic Leg for Solana, Names One Altcoin That Could Outperform Other Coins

Analyst Predicts ‘Mind-Blowing’ Parabolic Leg for Solana, Names One Altcoin That Could Outperform Other Coins

A crypto strategist who nailed the Bitcoin’s (BTC) price floor during the 2018 bear market thinks Solana (SOL) is gearing up for a steep move to the upside.

Pseudonymous analyst Bluntz tells his 234,400 followers on the social media platform X that Solana appears to be forming a bullish reversal pattern on the one-hour chart.

According to the analyst, he expects SOL to consolidate for a bit before launching a parabolic rally.

“Beautiful rounded bottom forming on SOL.

Would not be surprised to see some high timeframe sideways on this before the next mind-blowing parabola leg.” 

Source: Bluntz/X

With Solana now trading well above the pattern’s support, Bluntz predicts an imminent rally for the fifth-largest altcoin by market cap.

“Nice move from the lows so far on SOL.

New highs soon.”

At time of writing, SOL is trading for $107.40.

Next up, the trader is looking at the new layer-1 blockchain Sei (SEI). According to Bluntz, SEI is shaping up to be one of this cycle’s fastest horses after launching a nearly 400% rally in just a few months.

“SEI is quickly turning into this cycle’s outperformer.

Should definitely be on everyone’s radar for pullbacks in 2024, in my opinion.”

Source: Bluntz/X

At time of writing, SEI is worth $0.711, up about 200% since the start of December.

Another altcoin on the trader’s radar is Lido DAO (LDO), a crypto project that aims to allow users to stake Ethereum (ETH) without locking assets or maintaining infrastructure.

According to the analyst, LDO looks primed for a breakout on its US dollar pair while flashing a bullish reversal signal on its Bitcoin pair (LDO/BTC).

“I have a love/hate relationship with LDO but I think it’s finally going for the price discovery breakout. There’s also weekly bullish divergence on the BTC pair.”

Source: Bluntz/X

At time of writing, LDO is worth $2.87.

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