Top Trader Predicts ‘Violent Breakout’ for Solana, Says One Crypto Asset Looks Like Best Memecoin
A closely followed analyst is predicting an imminent massive breakout for Ethereum (ETH) competitor Solana (SOL).
Pseudonymous analyst Bluntz tells his 256,800 followers on the social media platform X that SOL appears to be printing a bullish pattern on the four-hour chart, setting higher lows.
“SOL gearing up for a violent breakout here in my opinion.”
Source: Bluntz/X
The trader also uses Elliott Wave theory, which states that a bullish asset often witnesses a fresh leg up after a three-part ABC correction. Looking at his chart, the trader suggests SOL completed the ABC correction after a retest of the $120 level.
Solana is trading for $159 at time of writing, up more than 3% in the last 24 hours.
Next up, the analyst says that Pepe (PEPE) seems to be in a bullish uptrend after bouncing off a key Fibonacci level at $0.000004454. He also believes that Pepe’s chart is the most bullish compared to other top memecoins.
“Of all the major memecoins, Pepe looks the best in my opinion. [Pepe] has already cleared and reclaimed the (a) wave lows after turbo V reversing from the major 0.618 [Fibonacci level].”
Source: Bluntz/X
Looking at his chart, the analyst suggests Pepe could soar past the $0.000013 level.
Pepe is trading for $0.000007721 at time of writing, up more than 14% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Top Trader Predicts ‘Violent Breakout’ for Solana, Says One Crypto Asset Looks Like Best Memecoin appeared first on The Daily Hodl.