DeFi News Daily Official TheBitTimes.com

A widely followed crypto analyst believes that one Ethereum (ETH) competitor could first correct by double digits and then go on a massive rally to print new all-time highs (ATH). Pseudonymous crypto trader Kaleo tells his 645,400 followers on the social media platform X that Solana (SOL) could decline by more than 36% of its current value. “SOL/Solana: $80s, new all time highs.” Source: Kaleo/X Looking at his chart, the trader suggests SOL could dip to around $80 and then soar past $263. Solana is trading for $125 at time of writing, down more than 5% in the last 24 hours. Next up, the analyst warns that Bitcoin (BTC) could dip to around $42,500, a decline of more than 21% of the current value. He also suggests Bitcoin may have a massive breakout after the US presidential election on November 5th and soar beyond $88,000 in early 2025. “Alright bros, still believe we range through the election and rip after, but starting to look like my IHS (...

A crypto strategist known for calling bottoms believes the altcoin market is one correction away from igniting rallies. Pseudonymous analyst Bluntz tells his 269,600 followers on the social media platform X that he’s keeping an eye on the TOTAL3 chart, which tracks the total market cap of crypto excluding Bitcoin, Ethereum (ETH) and stablecoins. Bluntz says TOTAL3, which is used to gauge the performance of altcoins, looks poised for a leg down before it regains bullish momentum. “Although TOTAL3 structurally looks amazing, very clear five-wave rise from the lows on the four-hour [chart]. I still think an ABC correcting that impulse from the lows is materializing and has yet to do a C wave down. I would be careful being max long right now, good entries will come…” Source: Bluntz/X The analyst practices the Elliott Wave theory, which states that a bullish asset tends to witness rallies after completing an ABC move down. Based on the trade...