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Home»ALTCOIN NEWS»A top analyst says Solana-based Memecoin is looking good amid the cryptocurrency correction and one of its Ethereum rivals is bullish.
ALTCOIN NEWS

A top analyst says Solana-based Memecoin is looking good amid the cryptocurrency correction and one of its Ethereum rivals is bullish.

By Crypto FlexsApril 18, 20242 Mins Read
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A top analyst says Solana-based Memecoin is looking good amid the cryptocurrency correction and one of its Ethereum rivals is bullish.
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One memecoin running on Solana (SOL) is showing signs of a bullish reversal, says one analyst who continues to build a following with timely altcoin calls.

Household analyst Bluntz told his 255,700 followers on social media platform

“$1.80 fell straight to 0.618 in WIF.

So far the response is promising and I hope this is the bottom, but I will wait for an impulsive 5 wave rise on the lower time frame (i.e. 30 minutes to 1 hour for confirmation).”

source: Blunts/X

Bluntz practices the Elliott Wave theory, which states that bullish assets undergo ABC corrective movements before witnessing a new five-wave rally.

Following the WIF analysis, Bluntz said memecoin’s recent price action suggests a move to the upside.

“There was a nice five wave rise from the low and we also have ABC.

I think WIF looks good, put your hat back on.”

video
source: Blunts/X

As of this writing, WIF is worth $2.64.

Bluntz is also bullish on Ethereum (ETH) competitor Near (NEAR). According to traders, NEAR has undergone a correction of more than 50% in just one month, presenting an opportunity for long-term holders.

“NEAR has so much to do right now.

A 50% drop from peak to trough, with 5 sub-waves visible in the C wave and a clear ABC coming down from the high as the 4-hour Relative Strength Index (RSI) is extremely oversold at levels not seen since the literal low of $1.

I think this will be a great entry at the right time.”

As of this writing, NEAR is worth $5.46, up more than 26% from its April low of $4.31.

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