Crypto Trader Forecasts $SOL Reaching All-Time Highs as Accumulation Phase Wraps Up; BTC & SEI Update Provided

Article Highlights
Top analyst predicts that Solana ($SOL) will reach record highs after completing its accumulation phase.
Bluntz Capital anticipates a surge in Solana, as well as a rise in Bitcoin and breakout potential for Sei.
Bitcoin is expected to reach $80,000, according to Elliott Wave theory and a decline in open interest.
Prominent cryptocurrency analyst expresses optimism about Solana, a competitor to Ethereum. He suggests that the SOL token has been in a phase of vertical accumulation since January 23 and believes that the “floodgates open soon” for Solana, indicating a potential upward trend.
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Positive outlook for Solana
Bluntz Capital’s analysis indicates that Solana has been accumulating since dropping below $80 in late January. Despite the initial dip, the cryptocurrency has shown resilience and is currently trading at $191.5, with a remarkable 70% year-to-date increase.
$sol
Vertical accumulation has ended, and the channel has been broken, implying that all-time highs are within reach.
https://t.co/moLLMbRmTR
pic.twitter.com/sA7wmwqTgQ
— Bluntz (@Bluntz_Capital)
March 14, 2024
The analysts suggest that Solana’s upward trend is intensifying, as evidenced by the bullish breakout from the ascending channel. Additionally, they confidently declare that Solana’s phase of vertical accumulation has concluded, indicating an imminent peak.
Solana’s strength is evident when compared to Bitcoin (SOL/BTC) and Ethereum (SOL/ETH), demonstrating its volatility and potential in the current market environment.
Bitcoin Targets $80,000
The analyst also holds bullish sentiments for Bitcoin, using Elliott Wave theory to predict a recent dip to $60,000 followed by a climb to around $80,000. The chart analysis suggests that Bitcoin tends to follow a five-wave pattern, with growth observed in the three-wave ABC model.
Nice divergence on
#btc
here, with an ABC retest of the prior all-time high and five waves accounted for within the C wave.
Open interest has decreased, and funding is flat and back to neutral.
Send it.
pic.twitter.com/EwTxXPKt4M
— Bluntz (@Bluntz_Capital)
March 15, 2024
Notably, a significant decrease in open interest (OI) combined with neutral funding indicates the potential for a Bitcoin price rise. Currently, Bitcoin is trading at $68,062, experiencing a 0.7% decrease in the last 24 hours.
Sei Token Poised for Breakout
In addition to the bullish predictions for Solana and Bitcoin, Bluntz Capital also highlights Sei (SEI), the native token of the layer-1 blockchain.
$SEI
has had a slow burn this week but finally appears ready for a breakout, in my opinion. The next upward impulse is about to begin, in my opinion.
pic.twitter.com/dYUrLyEc6V
— Bluntz (@Bluntz_Capital)
March 14, 2024
Bluntz Capital predicts a breakout in a five-wave pattern for Sei, which could drive the price to $1.60. Currently, Sei Token is trading at $1.02, with a 14% increase in the past 24 hours.