A prominent cryptocurrency analyst and trader, known pseudonymously as Bluntz, has recently expressed a bullish outlook on a Solana-based memecoin, dogwifhat (WIF). Bluntz shared with his 236,100 followers on a social media platform that WIF could potentially appreciate by approximately 359% from its current level of $0.218.
Bluntz’s analysis suggests that the WIF/Solana pair has formed two consecutive lower lows on the four-hour chart this year after earlier bottoming out. He humorously commented, “If you think this ain’t going to $1 at least, you’re vastly underestimating how retarded we can be.”
Turning his attention to Ethereum (ETH), Bluntz noted that when paired against Bitcoin (BTC), the second-largest crypto asset by market cap is forming a bullish divergence on the weekly chart. This divergence is characterized by the price trending lower while the Relative Strength Indicator (RSI), a momentum indicator used for determining overbought or oversold market conditions, is trending upwards.
Furthermore, Bluntz pointed out that the ETH/BTC pair has experienced a “fakeout to the downside,” which he interprets as a “very bullish signal”. At the time of his analysis, ETH was trading at 0.05643000 BTC ($2,597).
As for the Ethereum/US dollar pair, Bluntz suggested that the second-largest crypto asset could soar to above $2,900. His chart indicates that Ethereum may form the second wave of a five-wave pattern on the four-hour chart as it heads upwards. This is in line with the Elliott Wave theory, which posits that the main trend of the price of an asset moves in a five-wave pattern.
DISCLAIMER: The opinions expressed in this article are not investment advice. Investors should conduct their own 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 losses you may incur are your responsibility. This article does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor. Please note that the author participates in affiliate marketing.
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| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | None |
| Companies | None |
| Currencies | Bitcoin, Solana, US Dollar, Ethereum, dogwifhat |
| Securities | None |
