As we reported at Kriptokoin.com , the cryptocurrency market has begun to show signs of recovery after the corrections it has experienced recently. Experienced trader and Elliott Wave analyst Bluntz stated that some altcoin projects are preparing for new rallies. The activity on altcoins and memecoins belonging to the Solana ecosystem is particularly striking.
New Rally Expectation for Altcoin Pointed Out by Analyst
Bluntz said he sees strong bullish potential in the token of the decentralized oracle service Pyth Network (PYTH) . PYTH gained upward momentum by breaking out of a bullish pennant formation. According to Elliott Wave theory, such a move usually signals a five-wave uptrend. Bluntz predicts that PYTH could complete the fourth wave of this pattern and begin a fifth wave towards the $0.50 level.
This strong movement of PYTH is considered as part of the general recovery in the Solana ecosystem. Bluntz stated that this rise is an impulsive movement. This bullish signal draws a promising picture for investors. PYTH continues to maintain its strong performance in terms of trading volume and investor interest. The analyst said the following about this altcoin:
Solana ecosystem is recovering again, PYTH bull pennant breakout is notable.
Expectations of a Revival for Memecoins
Bluntz stated that memecoins are also preparing for a new upward wave. Especially Solana-based Dogecoin (DOGE) rival Bonk (BONK) may be the pioneer of this movement. The trader stated that BONK has completed a three-wave correction movement according to the Elliott Wave theory and is preparing for a new rally.
BONK has pulled back 46% from its recent high, and Bluntz said, “Selling opportunities like this don’t come around often,” adding that the correction presents a strong buying opportunity. The analyst predicts that BONK could reach new all-time highs, with the price moving as high as $0.00007. BONK’s trading volume and community interest are also key factors supporting these expectations.
Are New Highs on the Way for Altcoin Projects?
This movement in the market provides exciting opportunities for altcoin investors. Both PYTH and BONK attract attention with strong technical signals . Bluntz states that these altcoins can continue their upward trends, especially based on the Elliott Wave theory. However, investors should act carefully considering the volatility in the market.
New highs are probably on the way. However, it is very important to follow the market dynamics closely during this process. Both the Solana ecosystem and memecoins will be on the radar of investors in the coming days. The future of the altcoin market will be shaped not only by technical indicators, but also by general market sentiment.
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