Top Analyst Says Low-Cap Altcoin That’s Up 478%+ in Three Months Primed To Go Higher, Updates Outlook on Solana

A closely followed analyst believes that one low-cap altcoin that has rallied by nearly 6x in the last three months is due for a big leg up.

Pseudonymous analyst Bluntz tells his 238,000 followers on the social media platform X that he’s keeping an eye on Moonriver (MOVR), an Ethereum (ETH)-compatible parachain built on Kusama (KSM)

Bluntz shares a chart that suggests MOVR has completed an ABC corrective wave and is primed to rally close to $40.

“Still like MOVR.

These setups are some of my all-time favorite, when price ranges and both the high and then low get taken shaking out both sides.

This is going to send in my opinion.”

Source: Bluntz/X

Bluntz commonly uses the Elliott Wave theory, a technical analysis approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset tends to witness an ABC corrective wave before igniting the next surge.

MOVR is trading at $23.31 at time of writing, up around 478% from the low of $4.03 reached on October 27th last year.

Bluntz is also watching the price action of layer-1 blockchains Solana (SOL) and Sei (SEI). The analyst says that SOL and SEI are his top layer-1 picks as both altcoins “look spectacular.”

Solana is trading at $93.26 at time of writing while Sei is worth $0.662.

Generated Image: DALLE3

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