In a captivating turn of events, a trader renowned for accurately calling Bitcoin’s 2018 market bottom is now setting the stage for fresh all-time highs in the decentralized exchange (DEX). Pseudonymous analyst Bluntz, with a significant following on the social media platform X, has shared insights on a potential rally for Injective (INJ) after a bullish divergence caught his attention on the four-hour chart.
Decoding the Signals: INJ Price Analysis
Bluntz, the seasoned analyst, has pointed to a bullish divergence on the four-hour chart of INJ, a decentralized exchange altcoin. Bullish divergence often serves as an indicator signaling the conclusion of a corrective move. With this keen eye for market nuances, Bluntz suggests that INJ might be gearing up for a remarkable surge, eyeing an all-time high of $47. The current market price of INJ stands at 37.76.
Layer-1 Crypto Projects Igniting the Next Leg Up
Expanding the scope beyond INJ, Bluntz is closely monitoring the price action of four layer-1 crypto projects – SOL, AVAX, SEI, and SUI. According to his analysis, these projects seem to be heating up again, indicating potential upward movements for their native assets.
SUI: A Gem in the Making
Looking closely at SUI, Bluntz predicts a significant surge of over 28% for its current price. He sees SUI as a promising contender for the next leg up, projecting a target price of $1 and beyond. Currently, SUI is priced at $0.7811, which Bluntz considers a favorable dip for long positions.
As crypto enthusiasts and traders eagerly await the unfolding of market dynamics, Bluntz’s insights have sparked anticipation, particularly for INJ and SUI.
