Crypto Trader Affirms Robustness of LargeCap Memecoin Provides New Insights on Solana and Sui
Renowned cryptocurrency analyst and trader, Bluntz, has shared his bullish outlook on one memecoin and provided his predictions for two layer-1 altcoins. Bluntz, who goes by a pseudonym, has a substantial following of 287,700 on the social media platform X. He believes that Dogecoin (DOGE) is still showing great strength and could potentially surge by almost 60% to reach a price of $0.22, as indicated by his chart on the four-hour time frame. Currently, Dogecoin is trading at $0.138, reflecting a 20% increase over the past two weeks.
Bluntz further asserts that Dogecoin is the new leader in the mega large cap market, a fact that may not have been fully recognized by everyone yet, but will become evident soon. Moving on to Solana (SOL), Bluntz notes that despite recent bearish market sentiment, Solana has only experienced a slight decline and has not fallen below a significant resistance level that it recently surpassed on the daily time frame. This indicates the strength of the altcoin, and Bluntz believes that the likelihood of a fakeout is decreasing. Currently, Solana is trading at $166.
Lastly, Bluntz focuses on Sui (SUI) and applies the Elliott Wave theory in his analysis. He suggests that Sui may be on the verge of achieving a new all-time high in a five-wave pattern after a correction. According to the Elliott Wave theory, the price of an asset follows a five-wave pattern during the main trend, while a correction occurs in a three-wave pattern. Bluntz’s chart implies that Sui could potentially reach a price of $2.80, approximately 48% higher than its current price of $1.89.
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