A widely respected cryptocurrency trader is bullish on the small-cap memecoin built on the Solana (SOL) blockchain.
Alien trader Bluntz tells his 288,100 followers on social media platform
According to Bluntz, MOODENG is also showing a strong differential on a 4-hour basis. A bullish divergence occurs when an asset’s price makes lower lows while simultaneously seeing higher lows in an oscillator indicator, such as the Relative Strength Index (RSI).
As of this writing, MOODENG is trading at $0.161, up 10.38 times from its September 20 low of $0.0155.
Bluntz says:
“I think MOODENG, with a market capitalization of $150 million, is cheap after a share price decline of more than 50%.”
Traders are also bullish on Dogecoin (DOGE), the largest memecoin by market capitalization. Bluntz says DOGE is proving its strength by hitting new highs against Bitcoin, unlike other altcoins.
“The hand is showing.”
Dogecoin is trading at 0.00000273 BTC ($0.203) at the time of this writing, up about 54% over the past 30 days.
Next is SUI. Sui is close to its all-time high of $2.35, reached on October 13, according to an anonymous analyst who regularly applies Elliott Wave theory in technical analysis.
According to the widely followed analyst’s chart, he appears to be suggesting that SUI could rise above $3 in a five-wave pattern. According to Elliott Wave Theory, major trends in asset prices move in a five-wave pattern and corrections occur in a three-wave pattern.
Sui is trading at $2.31 at the time of this writing.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
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