Solana Reclaims Market Strength, Analyst Eyes Big Week Ahead
Signs of recovery are starting to emerge across the Solana ecosystem, according to one veteran crypto analyst who has earned a top trader rank on Bybit.
Signs of recovery are starting to emerge across the Solana ecosystem, according to one veteran crypto analyst who has earned a top trader rank on Bybit.
Known online as Bluntz, the trader believes that recent technical shifts are setting the stage for a fresh rally—not just for Solana (SOL), but for the wider group of tokens built on its network.
Bluntz, highlighted that SOL has finally managed to break through a persistent downward resistance line that had weighed on its price action since May. With that barrier now behind it, he says the conditions are ripe for a bullish run.
Confidence appears to be returning to the ecosystem, he noted, especially among smaller Solana-based tokens. One of the standouts in his view is Pudgy Penguins (PENGU), which recently broke out of a classic falling wedge—a pattern known to precede upward price reversals. While still flying under the radar, PENGU’s structure suggests the potential for a sharp move upward. At last check, it was trading at $0.014, but the trader sees scope for it to reach $0.025 if momentum holds.
In a broader signal to the market, Bluntz also hinted at a possible shift in capital away from Bitcoin and toward altcoins. He posted a chart tracking Bitcoin’s market dominance without commentary, though the implication was clear: a downturn in BTC.D typically suggests altcoins are about to take the lead.
If his analysis proves accurate, Solana and its associated projects may be poised to benefit from an incoming wave of interest—just as attention begins to drift away from Bitcoin.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
