SOL and Solana-Based Altcoin Set for New Heights, Trader Reassesses Dogecoin Outlook

• Crypto analyst Bluntz predicts a bullish trend for Solana (SOL) and Dogecoin (DOGE) based on technical indicators and historical patterns.

• Turner’s insights on Solana’s milestones and Bitcoin’s halving event contribute to the positive market sentiment, driving SOL’s surge toward the $300 milestone.

Cryptocurrency analyst Bluntz, renowned for his accurate altcoin forecasts, has signaled potential bullish movements for Solana (SOL) and Dogecoin (DOGE).In a post on X, Bluntz has shared insights on these digital assets, highlighting important technical indicators and past trends.

$SOL gearing up for another run imo, sol/btc looking like a nice abc now done.

swept the (a) wave lows and has now reclaimed. pic.twitter.com/61uS6FTzb0

— Bluntz (@Bluntz_Capital) March 29, 2024

Bluntz’s analysis suggests that Solana (SOL) is on the verge of a significant uptrend. Employing Elliott Wave theory, he points to a completed ABC corrective wave against Bitcoin (SOL/BTC) on the eight-hour chart. According to Bluntz, this pattern typically precedes a fresh leg up for bullish assets. The analyst predicts SOL/BTC to rise to 0.00365 BTC ($254), reflecting a positive sentiment towards Solana’s price action.

Dogecoin (DOGE) Poised for Potential Gains

In addition to Solana, Bluntz has expressed optimism regarding the move toward Dogecoin (DOGE). He highlights similarities between DOGE’s current trajectory and a pattern observed in Bitcoin’s price during early 2023 through comparative chart analysis. Notably, this comparison draws attention to Bitcoin’s bottoming out at around $16,000, suggesting a potential turnaround for Dogecoin. As of the time of writing, DOGE is trading at $0.205, indicating interest among traders and investors.

what if?$doge pic.twitter.com/BVhJBqzSxN

— Bluntz (@Bluntz_Capital) March 28, 2024

Bluntz’s insights are grounded in technical analysis; through his analysis of SOL and DOGE,moreover, Bluntz aims to equip traders with information to make informed decisions in the dynamic cryptocurrency landscape.

Additionally, Bluntz’s commentary has sparked interest among cryptocurrency enthusiasts, with many closely monitoring Solana and Dogecoin for signs of bullish momentum. While market conditions remain volatile, his analysis offers a perspective that resonates with traders seeking opportunities in the altcoin market. 

Development on Solana Network

According to insights from renowned crypto analyst Guy Turner, the smart contract platform Solana (SOL) is witnessing significant bullish momentum across multiple timeframes. Turner, the host of Coin Bureau, highlights that Solana’s weekly and monthly charts indicate a potential breakout of 35-45% above the $300 price mark. Notably, Solana’s performance against Bitcoin (BTC) is also showing promising signs, with a notable breakout anticipated.

Turner points out four upcoming milestones that could shape Solana’s journey toward the $300 milestone. The first milestone, the release of token extensions in January, laid the groundwork for subsequent developments. Following this, the launch of new validator clients, notably the Firedancer client, promises to significantly enhance Solana’s transaction speed, albeit the extent of improvement remains uncertain. 

Moreover, institutional support is a crucial milestone, potentially paving the way for enterprises to leverage Solana’s capabilities in tokenizing real-world assets. Finally, the Solana Foundation’s call to developers to harness the platform’s tools for building products and services underscores the community-driven nature of Solana’s growth trajectory.

Turner emphasizes that Solana’s surge towards the $300 milestone is not isolated but influenced by broader market dynamics, particularly Bitcoin’s upcoming halving event in April. With Bitcoin poised for a rally, Solana’s gains against BTC could propel it towards the $300 mark, potentially surpassing it. However, realizing this bullish scenario heavily depends on Solana’s ability to achieve its milestones effectively and garner sustained market interest. It is worth noting that, as of this writing, Solana is currently trading at $195, with a 24-hour decline of 1%.