Blog Post

kryptobörsen > News > Altcoin > This Solana-Based Altcoin Could Explode by Over 250%, According to Analyst Who Nailed 2018 Bitcoin Bottom

This Solana-Based Altcoin Could Explode by Over 250%, According to Analyst Who Nailed 2018 Bitcoin Bottom

A top cryptocurrency analyst and trader is predicting that a Solana (SOL) ecosystem memecoin could appreciate by triple digits.

The crypto strategist pseudonymously known as Bluntz tells his 239,300 followers on the social media platform X that a downtrending three-wave pattern on the daily chart of the memecoin dogwifhat (WIF) might be over with.

The analyst regularly uses Elliott Wave theory in his work, a technical analysis concept which states that main trends occur in five-wave patterns while corrections occur in three-wave patterns.

Based on Bluntz’s chart, the strategist is predicting the price of WIF could rise by around 272% from its current level in a five-wave pattern.

Source: Bluntz/X

WIF is trading at $0.222 at time of writing, a 4.2% gain during the last day.

Turning to Bitcoin (BTC), the Bluntz predicts that the flagship crypto asset will likely continue trading in a sideways range before potentially breaking out to the upside.

“Very boring price action over the last two days on Bitcoin.

Still think max pain is sweep both sides of the range but will continue to monitor.”

Source: Bluntz/X

Based on Bluntz’s chart, the pseudonymous analyst foresees Bitcoin first rising above $44,000 before falling to below $41,500. After falling below $41,500, Bluntz suggests that Bitcoin will then appreciate to above $45,000.

Bitcoin is trading at $44,719 at time of writing.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

Source link

Leave a comment

Your email address will not be published. Required fields are marked *