Anonymous analyst and trader Bluntz, closely followed by cryptocurrency investors, has been trading on Sui (SUI), Solana’s rival, and Bitcoin (BTC). $63,421 He expressed optimistic views on the matter.
Strong Increase Forecast in Sui
Bluntz said that the SUI has broken the upper boundary of the ascending channel on the four-hour chart, which could indicate a strong rally. 
$0.517378“I think SUI can continue to rise significantly from here; I think this is a real opportunity,” he said in his commentary for the altcoin.
The analyst stated that this breakout occurred with increasing trading volume and that this was usually a sign of a strong impulse wave, adding, “These slowly rising channel breaks that occur with volume almost always indicate the beginning of a strong impulse.”
According to Bluntz, SUI could rally about 75% from its current level to above $2.40. SUI is currently trading at $1.37 and is up 58% from its low of $0.867 a week ago.
New Peak Forecast for Bitcoin
Bluntz, who also analyzes Bitcoin, predicts that the largest cryptocurrency could reach its cycle peak at the end of 2024 or the beginning of 2025. The analyst said that Bitcoin has formed a five-wave formation according to the Elliott Wave theory, which could result in a sudden rise that would take the price to around $ 100,000.
On the other hand, the analyst warned, “Don’t miss the next BTC record. This could be the last big macro rally.”
Positive Technical Signals in Saga
Bluntz said that Layer-1 Blockchain Saga’s mainnet asset SAGA is in a positive technical formation, and its low market cap and venture capital backing are reinforcing bullish expectations. According to the analyst, Saga is forming an inverse head-and-shoulders formation on the daily chart, which indicates that sellers are exhausted and the price is unable to make a lower bottom.
Bluntz’s analysis suggests that cryptocurrencies like SUI, BTC, and SAGA could have significant upside potential. Investors should carefully consider market dynamics and risks when evaluating the analyst’s analysis.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
