One closely watched analyst believes a low-cost altcoin, which has risen nearly six-fold in the past three months, is poised for a big rally.
pseudonym analyst Bluntz says 238,000 followers on social media platform
Bluntz shares a chart that suggests MOVR has completed an ABC corrective wave and is poised to rise close to $40.
“I still love MOVR.
This setup is one of my favorites with price ranges and high and low swings on both sides.
This will send my opinion.”
Bluntz uses Elliott Wave theory, a technical analysis approach that attempts to predict future price movements by following herd psychology, which generally tends to appear in waves. The theory is that bullish assets tend to witness an ABC corrective wave before triggering the next surge.
MOVR is trading at $23.31 at the time of this writing, up about 478% from its low of $4.03 on October 27 of last year.
Bluntz is also watching the price movement of layer 1 blockchains Solana (SOL) and Sei (SEI). The analyst says SOL and SEI are his top layer 1 picks because both altcoins “look great.”
At the time of writing, Solana is trading at $93.26 and Sei is trading at $0.662.
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