Well-known crypto analyst Bluntz predicts significant price growth for Sui and examines opportunities for Pyth Network based on technical analysis.
Sui Price Growth Prediction
Analyst Bluntz predicts a significant price increase for Sui (SUI) to $5.50, representing an almost 98% rise. He suggests the current price of $2.77 indicates the completion of an ABC correction and the start of a five-wave upward cycle.
Technical Basis of the Prediction
Bluntz employs the Elliott Wave theory, suggesting that an asset can form a five-wave structure after an ABC correction. He believes the current price level represents the second wave of the cycle, with momentum expected to accelerate. The target price of $5.50 marks the end of the fifth wave, although historical data shows that such structures can lead to sharp pullbacks.
Pyth Network Recovery Potential
The Pyth Network shows a notable bullish divergence on its weekly chart. The current trading price is $0.105. Bluntz indicates similar bullish signals are present in various alternative assets, highlighting recovery potential amid market volatility.
Predictions for SUI and PYTH draw attention to market opportunities, though experts emphasize the need for careful analysis and risk management.
