A crypto strategist who supercharged his following after nailing the Bitcoin (BTC) 2018 backside believes one memecoin is gearing as much as spark extra rallies.
Pseudonymous analyst Bluntz tells his 277,200 followers on the social media platform X that he thinks the frog-themed, Ethereum (ETH)-based meme token Pepe (PEPE) is about to witness bullish continuation after pulling again in the previous few days.
The dealer shares a chart suggesting that PEPE will rally near $0.000014 earlier than ending its five-wave surge.
“Good little PEPE dip this nice Sunday night, I believe it ought to be bottoming round right here any minute now.
There are nonetheless many [legs up] to go for my part, and that is an absolute monster development.”
Bluntz practices the Elliott Wave concept, which states {that a} bullish asset tends to see a five-wave rally earlier than topping out. The idea additionally states {that a} bullish asset sometimes rallies after concluding an ABC correction.
Wanting on the dealer’s chart, he appears to counsel that PEPE has accomplished an ABC pullback amid a wave three surge.
At time of writing, PEPE is buying and selling for $0.0000105.
Turning to fellow meme token dogwifhat (WIF), the dealer shares a chart suggesting that the Solana (SOL)-based altcoin has taken out a diagonal resistance space that has stored the crypto asset bearish for months.
“GM (good morning) my hatted bros.”
At time of writing, WIF is value $2.44, properly above the diagonal resistance.
One other memecoin on the dealer’s radar is Popcat (POPCAT). In accordance with Bluntz, POPCAT appears to be like poised to interrupt out and rally to new all-time highs.
“Le POPCAT trying good once more right here, good ABC down on 4-hour chart simply beneath all-time highs, the following leg ought to break.
Beginning to wrestle to seek out room for all the baggage I wanna have now, too many trying nice.”
Primarily based on the dealer’s chart, he appears to counsel that POPCAT will surge to a recent document excessive of $1.25.
At time of writing, POPCAT is value $0.95.
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