A broadly adopted cryptocurrency analyst and dealer is expressing bullish sentiment on a Solana-based memecoin.
The analyst pseudonymously referred to as Bluntz tells his 236,100 followers on the X social media platform that the dogwifhat (WIF) memecoin may doubtlessly respect by roughly 359% from the present degree.
“When you assume this ain’t going to $1 not less than, you’re vastly underestimating how retarded we may be.”
WIF is buying and selling at $0.218 at time of writing.
From the pseudonymous analyst’s chart, it seems that Bluntz is suggesting that the dogwifhat/Solana (WIF/SOL) pair has shaped two consecutive decrease lows on the four-hour chart this yr after earlier bottoming out.
Turning to Ethereum (ETH), Bluntz says that when paired towards Bitcoin (BTC), the second-largest crypto asset by market cap is forming a bullish divergence on the weekly chart the place the worth is trending decrease whereas the Relative Power Indicator (RSI), a momentum indicator used for figuring out overbought or oversold market situations, is trending upwards.
In keeping with Bluntz, the ETH/BTC pair has moreover witnessed a “fakeout to the draw back” which is a “very bullish sign”.
ETH is buying and selling at 0.05643000 BTC ($2,597) at time of writing.
Regarding the Ethereum/US greenback pair, the pseudonymous analyst is suggesting that the second-largest crypto asset may soar to above $2,900. In keeping with Bluntz’s chart, Ethereum might type the second wave of a five-wave sample on the four-hour chart because it heads upwards. In keeping with Elliott Wave concept, the principle pattern of the worth of an asset value strikes in a five-wave sample.
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