By The Daily Hodl - 3 months ago - Reading Time: 2 minutes
Top Analyst Predicts Solana-Based Altcoin To Skyrocket Over 350%, Says Ethereum Flashing ‘Very Bullish Signal’
A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a Solana-based memecoin.
The analyst pseudonymously known as Bluntz tells his 236,100 followers on the X social media platform that the dogwifhat (WIF) memecoin could potentially appreciate by approximately 359% from the current level.
“If you think this ain’t going to $1 at least, you’re vastly underestimating how retarded we can be.”
WIF is trading at $0.218 at time of writing.
From the pseudonymous analyst’s chart, it appears that Bluntz is suggesting that the dogwifhat/Solana (WIF/SOL) pair has formed two consecutive lower lows on the four-hour chart this year after earlier bottoming out.
Source: Bluntz/XTurning to Ethereum (ETH), Bluntz says that when paired against Bitcoin (BTC), the second-largest crypto asset by market cap is forming a bullish divergence on the weekly chart where the price is trending lower while the Relative Strength Indicator (RSI), a momentum indicator used for determining overbought or oversold market conditions, is trending upwards.
According to Bluntz, the ETH/BTC pair has additionally witnessed a “fakeout to the downside” which is a “very bullish signal”.
Source: Bluntz/XETH is trading at 0.05643000 BTC ($2,597) at time of writing.
Concerning the Ethereum/US dollar pair, the pseudonymous analyst is suggesting that the second-largest crypto asset could soar to above $2,900. According to Bluntz’s chart, Ethereum may form the second wave of a five-wave pattern on the four-hour chart as it heads upwards. According to Elliott Wave theory, the main trend of the price of an asset price moves in a five-wave pattern.
Source: Bluntz/XDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Original source: The Daily Hodl