July 2, 2025 00:56 UTC
An analyst known for being crowned a 'Master Trader' on the cryptocurrency exchange Bybit believes a major bullish movement is on the horizon for a rival of Solana ( SOL ).
The pseudonymous analyst Bluntz told his 321,600 followers on the social media platform X that the native asset of the layer 1 protocol Sui ( SUI ) is in the midst of a new five-wave high after completing an ABC correction.
The trader uses Elliott Wave theory in his technical analysis. The theory states that a bullish asset tends to display a five-wave high after completing an ABC correction.
Says Bluntz,
"Many alts are starting to look incredibly good here, SUI is definitely one of them."
Based on the trader's chart, he seems to predict that SUI will reach $5.50, a 98% increase from its current value of $2.77.
Another altcoin on traders' radar is the decentralized oracle Pyth Network ( PYTH ), based on Solana. According to Bluntz, PYTH is showing a bullish divergence on the weekly chart, indicating that a major bullish reversal is underway.
"Loving PYTH here, the Solana ecosystem is so radical that it could easily double in size in the blink of an eye.
Bullish divergence everywhere, as far as the eye can see
