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November 8, 2023

Crypto Trader Predicts Solana (SOL) to Soar Beyond $100, Bullish Momentum and Cycle Bottom for Lido DAO (LDO)

Aria Mitchell
Written byAria MitchellWriter
Researched byNikos PapadopoulosResearcher

A crypto trader who accurately called Bitcoin’s (BTC) 2018 bear market price floor is predicting Solana (SOL) will easily soar beyond $100.

Crypto Trader Predicts Solana (SOL) to Soar Beyond $100, Bullish Momentum and Cycle Bottom for Lido DAO (LDO)

Pseudonymous analyst Bluntz tells his 226,000 followers on the social media platform X that the Ethereum (ETH) competitor Solana will likely increase by more than 218% from its current value after a long accumulation phase.

“These high timeframe accumulation breaks after 90% drawdowns are the things dreams are made of. No high time frame resistance in my opinion until $137 on SOL.”

He also says that Solana is showing bullish momentum after breaking out of a downward channel.

“SOL baby let’s go. LTF (low time frame) accumulation and channel breakout.”

Solana is trading for $42.95 at time of writing.

The trader also weighs in on the liquid-staking service provider Lido DAO (LDO). According to Bluntz, the LDO against Bitcoin (LDO/BTC) pair may have already carved a cycle low.

“LDO/BTC from inception. Trying to keep a level head about it and not get carried away, but good chance this is a cycle bottom against BTC.”

Looking at LDO versus the US dollar (LDO/USD), Bluntz says that the pair is flashing a bullish setup on the four-hour chart.

“LDO consolidating above the prior high, gearing up for the next markup in my opinion. I really like this setup. LDO/BTC ended up closing the week as a very nice engulfing as well.”

LDO/BTC is trading for 0.0000555 BTC ($1.97) at time of writing.

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Aria Mitchell
Aria Mitchell
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From Rotorua's scenic landscapes, Aria Mitchell shines as New Zealand's leading expert in localizing online casino content. Marrying Kiwi essence with global gaming insights, she's the name trusted nationwide.

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