An analyst known for his successful altcoin predictions thinks a meme coin is poised for a big upside boom. Another popular analyst predicts big rallies for two DeFi altcoins.
The analyst expects a 50% rally from WIF: Here are his targets!
As you have been following on Kriptokoin.com, the market that lost its momentum started to fall. Features meme coins are facing deep losses. However, analysts say some tokens are poised for a bounce. The crypto analyst, nicknamed Bluntz, believes that while there is a medium-term bearish bias on the meme token dogwifhat (WIF), the altcoin is poised for a big bounce. According to Bluntz, WIF is giving off numerous bullish signals suggesting that it could witness a relief rally before resuming its downtrend. In this regard, the analyst shares the following predictions:
While I think WIF looks cooked and doomed to $1 on the high timeframe, I also believe a 50% bounce could be in the cards first. We can see five waves down and nice bullish divergences from the high below $4 on the four-hour, eight-hour and 12-hour charts. We are waiting for a counter-trend ABC up to around $3-3.4 for everyone to come back down again. Shorting these levels is definitely not wise in my opinion.
Bluntz applies the Elliott Wave theory, an approach to technical analysis. This theory attempts to predict future price movements by following crowd psychology, which tends to unfold in waves. According to the theory, a bearish asset usually witnesses a five-wave down move followed by a three-wave ABC up correction. According to his chart, the analyst predicts that WIF has completed a five-wave bearish move and is now ready to ignite an ABC bounce. However, after the bounce, Bluntz predicts that WIF will fall to around $1.
Credible Crypto predicts a rally for these 2 altcoin projects
Credible Crypto, an analyst known for contrarian crypto predictions, is bullish on Curve (CRV) and Convex Finance (CVX). Curve Finance is a decentralized exchange focused on stablecoins. Convex supports Curve by optimizing the returns of locked tokens. According to the analyst, both altcoins are in a position to rise following the liquidation of Curve founder Michael Egorov on June 13. Accordingly, the analyst says the following:
I see low timeframe impulses on CRV and CVX. It’s probably time for the big rebound to start. Now that Michael Egorov has been liquidated, that ledge is out of the picture. I think the kings of DeFi can now move freely.
Price targets for CRV and CVX
Both CRV and CVX have been on the rise since Egorov’s liquidation last week. CVX rose more than 157% to $4.77 on June 17 from last week’s low of $1.85. According to Credible, CRV will follow in CVX’s footsteps. In this context, the analyst said, “There is a flight to quality / utility coming. I think CRV will follow,” the analyst said. Although CVX has pulled back since its recent highs, Credible notes that both altcoins have much more room to run to the upside. In this context, the analyst points to the following prices for the two altcoins:
$2 for CRV and $15 for CVX are the main resistance areas. Profit is likely to be made from leveraged long positions at these levels. We hold spot until new all-time highs.
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