Solana’s $SOL token has encountered a bumpy start in 2024, following a remarkable Q4 performance in 2023. Despite this, crypto analyst Bluntz sees optimistic signs for a potential upward trend.
In a recent tweet, Bluntz expressed confidence in a bullish reversal for $SOL, interpreting the repeated testing of the $100 level as a corrective pattern rather than indicative of a prolonged bearish trend.
According to Bluntz, the consolidation range over the past two weeks is serving as a foundation, setting the stage for SOL’s next significant rally.
A move towards $140 or beyond would represent a substantial gain of over 40% from its current levels around $100. Bluntz, with a substantial following of over 230k on “X”, is recognized as an insightful crypto market analyst, lending weight to his bullish outlook.
As a top-10 cryptocurrency, Solana holds considerable potential for upward momentum if the current crypto bear market undergoes a reversal. Its emphasis on speed and scalability positions Solana favorably to attract investor interest in 2024 and the foreseeable future.
In addition to the analysis on Solana, Bluntz also shared insights on the meme coin $WIF. Trading around $0.40, $WIF has surged over 140% in the last week, reaching a market cap of $400 million.
Bluntz believes $WIF is in a consolidation phase below its all-time high before making its next significant upward move. Positioned in the competitive meme coin niche, WIF carries substantial speculative potential, especially given its comparatively modest market cap. Bluntz anticipates WIF breaking out of its recent range and making a “full send” to new highs, potentially experiencing exponential growth in market cap in 2024 if it garners attention and enthusiasm from investors and traders alike.
