đ„đ„đ„ Top #CryptoAnalyst Predicts 50% Rally for Solana-Based #Memecoinđ€đ€ â Here Are His Targets
A trader renowned for his timely calls on altcoins believes that one memecoin is gearing up for a significant upward surge.
Known by the pseudonym Bluntz, the analyst shares with his 261,500 followers on X that while he holds a medium-term bearish view on the meme token dogwifhat ($WIF ), he anticipates the altcoin to experience a notable rebound.
Bluntz employs the Elliott Wave theory, a technical analysis method that seeks to forecast future price movements based on crowd psychology, which often manifests in discernible waves. According to this theory, a bearish asset typically undergoes a five-wave downward movement followed by a three-wave ABC correction upward.
From Bluntz's analysis, it appears that WIF has completed its five-wave downward pattern and is now poised to initiate an ABC corrective bounce.
However, following this bounce, Bluntz anticipates that WIF will decline to approximately $1.
As of the latest update, WIF is currently trading at $2.08.
Source - dailyhodl.com
