A crypto strategist who continues to build a following with timely altcoin calls believes that a memecoin is poised to see a strong upside explosion.
Pseudonymous analyst Bluntz tells his 289,900 followers on social media platform
Bluntz says dogwifhat is issuing several bullish signals against Solana (WIF/SOL), indicating that the memecoin is preparing for a big reversal.
“SOL is currently the market leader and WIF/SOL is at its lowest.
A huge five down on the four hour (chart) and diverging sharply.
While SOL seems incredibly optimistic, I think WIF is about to go crazy.
My bags are packed.
Bluntz applies Elliott Wave Theory, which states that an asset’s trend tends to end after a five-wave move. Based on the trader’s chart, it seems to suggest that WIF/SOL has made a five-wave correction, suggesting that the memecoin is poised to outperform Solana.
At the time of writing, WIF is trading at $2.59, up almost 6% on the day.
Regarding the Sui Layer 1 Protocol (SUI), Bluntz believes that the altcoin is in the early stages of a fifth wave rally to reach a new all-time high at $3.
“The fourth SUI macro wave is nearing completion, has reached the 0.38 Fibonacci level of the third macro wave and is still awaiting new ATHs and a 5th bullish wave.”
At the time of writing, SUI is worth $1.90, up more than 10% in the last 24 hours.
The latest altcoin on the trader’s radar is Popcat (POPCAT). Bluntz shares a chart suggesting that POPCAT is in the middle of a five-wave rally with a target price of around $2.10.
“Nice dish on POPCAT also done this weekend, on the way to the ATHs (all-time highs), again, in my opinion.”
At the time of writing, POPCAT is trading at $1.69, up over 15% over the past day.
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