Analyst Says Solana Flashing ‘Very Promising’ Bullish Setup, Predicts Rallies for Two Low-Cap Altcoins
An analyst who has earned the Master Trader rank on the crypto exchange Bybit thinks Solana (SOL) looks good after recovering a key support level. Pseudonymous analyst Bluntz tells his 319,800 followers on the social media platform X that Solana is flashing a swing failure pattern (SFP) on the four-hour chart after losing support at $160 at the end of May, only to recover the price level days later. An SFP is typically viewed as a reversal pattern, and in Solana’s case, the inability of bears to push prices lower indicates a failure to sustain downward momentum, potentially triggering a shift in market sentiment. Says Bluntz, “Quite liking the SOL’s reaction after taking the lows, working on a reclaim now, still early days but very promising in my opinion. If this reclaims, it’s go time.” Source: Bluntz/X At time of writing, SOL is trading at $160.33, slightly above the trader’s key support level. The analyst is also bullish...