The cryptocurrency market rallied strongly after the Fed’s unexpected interest rate decision. After that, the momentum slowed a bit over the weekend. However, analysts are predicting further rallies ahead for some tokens. One analyst with a large following is bullish on a low-volume meme coin inspired by felines in the BNB Chain ecosystem. The analyst also speaks hopefully for a token backed by AI hype.
Bluntz predicts a face-burning rally for CAT!
As you have been following on Kriptokoin.com, the market went into a bit of a consolidation mode over the weekend. Bitcoin, the leading cryptocurrency, settled above $63,000 but is struggling to advance further. Even though the market is dominated by green, there is a lower intensity of trading over the weekend. However, some tokens are showing promise for the future. A veteran analyst nicknamed Bluntz says a major breakout is coming for the Simon’s Cat (CAT) meme coin. In this context, the analyst said, “Cat season is alive and well. CAT continues to accumulate vertically and then explodes. Also, the cryptocurrency price has been rising steadily since launch. I think a face-burning rally is imminent.”
According to his chart, Bluntz suggests that CAT is in the process of breaking out of an ascending channel on the four-hour timeframe. CAT is trading at $0.00004522 at the time of writing, up nearly 291% from its August 22 low of $0.0000109. The meme coin also saw an increase of over 17% on its daily chart. CAT is based on the popular British animated web and book series Simon’s Cat. The cryptocurrency, which debuted last month, currently has a market capitalization of just over $300 million.
According to the analyst, this cryptocurrency will raise its head again!
The analyst also shares his views on the layer-1 Blockchain Near Protocol (NEAR). According to Bluntz, the cryptocurrency price is starting to rise. Moreover, this rise can be supported by the hype around artificial intelligence (AI) technology. In May this year, NEAR announced that it was developing tools that would enable users to develop their own AI applications on the protocol. The analyst has this to say about NEAR:
I like NEAR again here, the token is starting to pull its head out of its six-month downtrend. I’m sure the AI narrative will rear its head again at some point.
According to its chart, the analyst suggests that NEAR is trying to break its diagonal resistance. Meanwhile, NEAR was trading at $4.55 at the time of writing, up over 4% on a daily basis. The cryptocurrency also advanced 8.5% on its weekly chart.
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