Crypto analyst and trader Bluntz shared his optimistic expectations regarding the Pyth Network (PYTH), a blockchain oracle service within the Solana ecosystem. With 290,400 followers, Bluntz indicated that PYTH is poised for a significant upward movement.
Bitcoin Forecast
Bluntz emphasized that PYTH’s current price is just below a crucial resistance level. According to the analyst, breaking through this level could accelerate upward momentum. Currently, PYTH is trading at $0.399.
In his statement, Bluntz noted, “A large bullish candle is coming for PYTH. After a three-month accumulation period, a strong formation has developed. Right now, it is testing the resistance zone at $0.50; if this level is surpassed, there will be clear skies ahead.”
Dogecoin Expectations
Bluntz also sees a positive outlook for Bitcoin . Utilizing Elliott Wave Theory, he suggested that Bitcoin could continue to rise after a brief correction. The analyst believes Bitcoin may reach approximately $80,000 by early November, creating a new peak. He added that he expects increased volatility surrounding election-related concerns: “I see rising fears of volatility associated with the elections. However, this volatility will come from higher levels.”
Bluntz also noted that Solana is regaining interest and that PYTH is closely monitoring this movement. He warned investors about potential market volatility that may spike during the election period. Such analyses provide valuable insights for those looking to predict market movements using technical data.