A Trader’s Insight on Solana (SOL) and Polygon (MATIC) Price Movements
A trader with a successful track record, who accurately predicted Bitcoin’s floor price during the 2018 bull market, now anticipates bullish movements for Solana (SOL) and Polygon (MATIC).
Pseudonymous analyst Bluntz, sharing insights with his 229,100 followers on the social media platform X, suggests that Solana is poised for a rally following a recent pullback to $54.78.
Utilizing Elliott Wave theory, an advanced technical analysis method, Bluntz notes, “SOL looking like a series of 1-2s from the lows on low time frames. The next leg up should hopefully take us up to $80 and beyond.”
According to Bluntz’s chart analysis, the trader predicts that SOL will initially rally to about $70 and then $82.50. As of the latest update, SOL is trading at $59.66.
Predictions for Polygon (MATIC)
Bluntz also provides insights into MATIC, the native asset of the Ethereum (ETH) scaling solution Polygon. The trader observes that MATIC appears bullish after respecting a key support level and exhibiting a bullish divergence on the hourly timeframe.
Explaining the potential for MATIC, Bluntz states, “MATIC gearing up for a potential 20% push into new highs in my opinion. The bottom chart represents the low time frame, while the top is daily. MATIC had a nice 0.38 Fibonacci retest, showing a three-wave move down and some [bullish] divergence at the lows.”
According to the trader’s chart analysis, MATIC is predicted to rally to $1, while its current value is $0.844 at the time of writing.
