An Ethereum (ETH) competitor, Solana (SOL), is expected to experience a significant breakout according to a well-regarded analyst. Bluntz, a pseudonymous analyst with a substantial following of 256,800 on the social media platform X, suggests that SOL is displaying a bullish pattern on the four-hour chart, with higher lows being set. Bluntz anticipates a “violent breakout” for SOL in the near future. The analyst also utilizes Elliott Wave theory, which indicates that after a three-part ABC correction, a bullish asset often experiences a fresh upward movement. Based on his analysis, Bluntz believes that SOL has completed the ABC correction after retesting the $120 level. At the time of writing, Solana is trading at $159, reflecting a more than 3% increase in the past 24 hours.
Moving on, Bluntz highlights Pepe (PEPE) as being in a bullish uptrend after rebounding from a key Fibonacci level at $0.000004454. The analyst further states that Pepe’s chart is the most bullish when compared to other leading memecoins. According to Bluntz, Pepe has already surpassed and reclaimed the wave lows after a significant reversal from the major 0.618 Fibonacci level. Based on his chart analysis, Bluntz suggests that Pepe could potentially surpass the $0.000013 level. At the time of writing, Pepe is trading at $0.000007721, reflecting a more than 14% increase in the past 24 hours.
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