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A trader who accurately predicted the bottom of Bitcoin’s bear market in 2018 is optimistic about the future of Solana (SOL), despite its recent correction. The trader, known as Bluntz, took to social media to share his bullish outlook on SOL, highlighting its quick recovery after dropping to a 24-hour low of $68.06. Bluntz believes that the correction has shaken out overleveraged traders, setting the stage for a bullish end to the week for SOL and the broader crypto market.
Examining SOL more closely, Bluntz sees the altcoin’s uptrend continuing and even predicts a rally to as high as $150. The trader is confident that there is still plenty of potential for SOL to rise, stating that this leg of the rally from the $51 lows could be the largest extension seen so far. At the time of writing, SOL is trading at $70.31, suggesting a potential upside of around 100% if it reaches Bluntz’s target.
Overall, Bluntz remains optimistic about SOL’s prospects and believes that the recent correction has created a favorable buying opportunity. Investors should conduct their own research and exercise caution when making high-risk investments in cryptocurrencies.