Benzinga - Pseudonymous cryptocurrency analyst Bluntz said on Tuesday that Solana (CRYPTO: SOL) is expected to break out against Bitcoin (CRYPTO: BTC) soon, with its U.S. dollar pair likely to see significant rallies if this happens.
What Happened: Bluntz believes it is only a matter of time before the 37-day range breaks, and when it does, “Ethereum (CRYPTO: ETH) killer” Solana’s price is expected to soar.
"SOL/BTC trying to break this most recent bull flag after chilling for a few days. When this 37-day range breaks, SOL is going to gigasend. It will probably be the steepest leg yet. Don't listen to the bear posters fam, they hate money."
SOL/BTC trying to break this most recent bull flag after chilling for a few days.when this 37 day range breaks, $SOL is going to gigasend, will probs be the steepest leg yet.
don't listen to the bear posters fam, they hate money. pic.twitter.com/Nw4pWeabSJ
— Bluntz (@Bluntz_Capital) December 18, 2023
While Solana is up 700% in 2021, it saw a drop of 2% in the last 24-hour timeframe. Bluntz views this as a correction.
Another analyst and trader, Deftsuo, provided a more bullish outlook on Solana. He stated "Solana looks about ready to break out above $80. The parabolic structure is present as well." Deftsuo also believes that there is not much resistance until Solana hits $100 if it breaks through the $80 mark.
$SOL 1DDaily looks about ready to break out above $80. Parabolic structure is present as well.
Very possible we see $100+ SOL by years end IMO; as there isn't much resistance until $100 if $80 is broken through.
(NFA/DYOR.) pic.twitter.com/EKOWAvZoV4
— Deftsuo (@deftsuolol) December 14, 2023
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: Recent data has shown that the search volume for the term "Solana" has experienced a significant surge on Google. According to The Block, the search volume for the term has increased by 250% over the past two months, rising from a score of 14 in early October to 49 in early December, on a scale that ranges from 0 to 100.
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