One of the cryptocurrency market’s well-known analysts has given a bullish signal for both one of the popular altcoin projects and a low-cap meme coin. The analyst also suggested that Bitcoin could reach six figures in the coming period.
Bluntz sees opportunity in Bitcoin and popular altcoin project
Analyst Bluntz, who goes by the pseudonym, told his 265,200 followers on social media platform According to Bluntz, NEAR broke out above the upper boundary of the ascending channel on the four-hour chart, a pattern typically considered bullish. The analyst says:
Channel breakouts that slowly move upwards are among my favorites to trade. The longer the channel continues, the stronger the resulting breakout.
According to Bluntz’s chart, the analyst suggests that NEAR repeats a similar pattern exhibited by Bitcoin before moving higher in late 2023. Additionally, Bluntz hints that NEAR could surge 63% to above $10 in the coming weeks.
Mobility for meme coin WIF
Bluntz is a name that frequently uses Elliott Wave theory in his technical analyses. According to the analyst, meme coin WIF has completed a three-wave correction pattern on the one-hour chart. According to Elliott Wave theory, the main trend of an asset’s price moves in a five-wave pattern, while the correction occurs in a three-wave pattern. Bluntz also says that the uptrend for most meme coins will “start again soon.”
Low-volume, 7,000 percent up meme coin PONKE attracts attention
Bluntz also stated that he expects an increase for PONKE (PONKE), a low-volume memecoin built on the Solana (SOL) blockchain. According to the analyst, PONKE signals a bullish structure after breaking out of an ascending channel and then converting the upper boundary of the ascending channel into a support level. As of writing, PONKE is trading at $0.681 and is up approximately 7.238% from the January 3 low of $0.00928.
Michael van de Poppe commented on altcoin OM
Another analyst who follows the cryptocurrency market closely thinks that an altcoin that has achieved tremendous gains in the last year will continue its rise. Crypto strategist Michaël van de Poppe also addresses his 722,300 followers on social media platform OM is currently trading at $1.29, which represents a small increase on a daily basis. In August last year, OM was trading at $0.018.
As for Bitcoin, van de Poppe argues that Bitcoin should continue to grow as long as it stays above the $60,000 level. Analyst says Bitcoin is breaking gold record, yields are falling and it is just a matter of time for Bitcoin to rise. Van de Poppe examines metrics such as Bitcoin miners’ capitulation rate and hashrate decline and believes the next rise of the most market-dominant crypto asset will take it to six figures.
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