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Home»ALTCOIN NEWS»Crypto Strategist Says Solana (SOL)-Based Memecoin Is At The Bottom, Reveals Best AI Altcoin Pick
ALTCOIN NEWS

Crypto Strategist Says Solana (SOL)-Based Memecoin Is At The Bottom, Reveals Best AI Altcoin Pick

By Crypto FlexsJuly 1, 20243 Mins Read
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Crypto Strategist Says Solana (SOL)-Based Memecoin Is At The Bottom, Reveals Best AI Altcoin Pick
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A trader known for his timely altcoin calls believes the Solana (SOL)-based meme token has started a new bullish trend.

Pseudonymous analyst Blunts told his 263,800 followers on social media platform

According to analysts, WIF is already showing signs of a bullish reversal in the lower time frames after a sharp correction from its all-time high of $4.83.

“I am now starting to feel confident that the bottom of WIF is in sight.

There was a nice 70% correction from high to low, not only did it drop to $1.46, but it also formed a long structure over three waves, just like I wanted.

Now, for the first time in months, there has been an impulsive five-wave rise from the low.

I think it’s likely a big bottom while 1.46 holds and we’re now fully allocated to WIF again.”

Source: Bluntz/X

Bluntz practices Elliott Wave theory, which states that bullish assets tend to witness 5-wave rallies and 3-wave ABC corrections. Looking at the trader’s chart, he sees that WIF has completed a 5-wave rally on the hourly chart, signaling a trend change.

The chart also suggests that WIF has completed its ABC correction and is poised for a bounce above $3.

As of this writing, WIF is worth $2.01.

Bluntz is also bullish on artificial intelligence (AI)-focused altcoin Fetch.ai (FET), which is flashing several signals that indicate the correction is over, according to the top trader.

“FET is the AI ​​narrative of my choice.

-68% drop from high to low, retesting the previous high and the pullback structure is the same as the 3rd day downtrend.

I think this is the floor and this will be the turbo pump.”

video
Source: Bluntz/X

As of this writing, FET is trading at $1.35.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and trading are entirely at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl is engaged in affiliate marketing.

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