‘Sizeable Bounces’ Coming for Ethereum Rival Solana As SOL Flashes Bullish Reversal Signal, According to Analyst
An analyst who accurately called the start of Solana’s (SOL) correction this year is flipping bullish on the native asset of the layer-1 protocol. Pseudonymous analyst Bluntz tells his 317,700 followers on the social media platform X that he believes the Ethereum (ETH) challenger looks ripe for a significant bounce after losing about 64% of its value from its all-time high of $293, which it hit in January of this year. According to Bluntz, SOL is flashing a bullish divergence on the daily chart, a reversal signal suggesting that buying momentum is on the up and up even though an asset’s price continues to fall or move sideways. “Started bidding some names for bounces today, a lot of bull divs printed on names like SOL, HYPE + many more that have basically gone down -70%+ in a straight line even on large caps. Definitely do not subscribe to the idea that this is ‘THE BOTTOM’, but sizable bounces are highly likely in my opinion.”...