Analyst Bluntz, known in the cryptocurrency space, forecasts potential growth for Solana and several altcoins. Recent posts on his social media discuss positive market changes.
Signs of Growth in Solana
Bluntz noted that Solana surpassed a diagonal resistance level, which had kept prices in check since the end of May. The analyst expects positive weekly movements for SOL and other projects in its ecosystem.
> Bluntz: "We observed a nice downtrend break in SOL. Projects within the SOL ecosystem are also looking promising again."
Pudgy Penguins and Altcoins Poised for Gains
One of the projects the analyst closely monitors is the NFT-based altcoin Pudgy Penguins (PENGU). Bluntz noted that PENGU broke out upwards from a descending wedge pattern, suggesting this might mark the beginning of a strong upward trend. He emphasized that short-term significant increases in the PENGU price are possible.
> Bluntz: "We saw extraordinary growth in PENGU. The chart is quite compelling, and much higher levels are within potential reach."
Indications of Altcoin Strengthening Against Bitcoin
Bluntz noted signs of strengthening in altcoins not only in Solana and PENGU but across various projects against Bitcoin. He highlighted a negative divergence observed in the Bitcoin Dominance (BTC.D) chart over a three-day timeframe, which may signal that the market share of altcoins could increase relative to Bitcoin.
> Bluntz: "BTC.D shared without comment."
Despite the positive signals from technical indicators, the cryptocurrency market remains volatile. Experts recommend conducting thorough research before making investment decisions.
