Renowned crypto analyst Bluntz has made significant predictions about Sui (SUI), Bitcoin (BTC), and Saga (SAGA). Bluntz emphasized the growth potential of Sui while also offering strong forecasts for Bitcoin and Saga. Here’s a breakdown of the cryptos on the analyst’s list.
First on the Analyst’s List: Sui’s Growth Potential
Bluntz highlighted that Sui (SUI) has made a powerful breakout on the four-hour chart. In a post on social media platform X, Bluntz mentioned that Sui breached the upper limit of a rising channel, gaining impressive momentum. This breakout coincided with a surge in trading volume, signaling increased interest.
The analyst believes that Sui has more room to rise and offers potential opportunities for investors. According to him, slow channel breakouts coupled with rising volume are strong indicators of continued momentum. Bluntz forecasts that Sui could climb to $2.40. Currently trading at $1.37, Sui has already surged by 58% from its low point last week.
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Bitcoin’s Peak Prediction
Bluntz also made bold predictions about the Bitcoin (BTC) cycle. The analyst believes that BTC could reach its cycle peak by late 2024 or early 2025, potentially skyrocketing to $100,000 during that time.
This prediction is based on the Elliott Wave Theory, which suggests that an asset moves in five waves during a primary trend, followed by a correction in three waves. Bluntz stated that Bitcoin is currently within this model, and the upward trend is yet to fully kick off.
Last on the List: Saga’s Bullish Formation
Bluntz offered positive commentary on the Saga (SAGA) project, a layer-1 blockchain. The analyst noted that SAGA is exhibiting a strong bullish formation in the current market environment. With its low market cap and venture capital backing, the project holds significant upward potential.
The chart shared by Bluntz indicates that Saga is forming an inverse head and shoulders pattern, a classic signal of diminishing selling pressure and a possible price recovery. According to the analyst, Saga could deliver significant gains for investors through a robust upward move. Bluntz’s assessments point to promising opportunities for both short-term and long-term investments. Sui’s rapid rise, Bitcoin’s cyclical movements, and Saga’s potential all offer compelling prospects for future gains.
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