In the cryptocurrency space, analyst Bluntz has made a bold prediction for price growth for the Sui (SUI) protocol and Pyth (PYTH) network.
SUI Growth Forecast
Bluntz, a well-known trader, predicts nearly a 98% increase in the price of SUI, leading to $5.50 from the current $2.77. He links this to the completion of an ABC correction phase and the beginning of a five-wave upward trend.
Factors Supporting the Forecast
Bluntz leverages Elliott Wave theory, which posits that assets can evolve into a five-wave uptrend after correction. He believes SUI's chart reflects such patterns, providing grounds to expect further growth after the second wave. However, historical experience indicates that cryptocurrencies failing to finalize similar structures can face steep declines.
Outlook for Pyth Network
Bluntz also highlights Pyth Network as a potential growth asset. Signs of bullish divergence on its weekly chart indicate possible improvement. Currently trading at $0.105, PYTH's indicators may signal market recovery.
Bluntz's insights emphasize the importance of a well-founded approach to investments in the volatile cryptocurrency market, where caution and comprehensive analysis are essential.
