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Home»Analysis»Top analyst updates outlook for Dogecoin rival that has exploded more than 300% in three weeks, says Solana to soar higher
Analysis

Top analyst updates outlook for Dogecoin rival that has exploded more than 300% in three weeks, says Solana to soar higher

2024-01-26No Comments2 Mins Read
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A widely followed crypto analyst expresses positive sentiment about a memecoin that has risen by triple digits in less than three weeks.

The analyst, pseudonymously known as Bluntz tells According to its 237,900 followers on the social media platform

Based on Bluntz’s one-day chart of the asset, it appears that the analyst, who is known for applying Elliott Wave theory in his technical analysis, suggests that WIF is currently on the second wave of a five-wave pattern and could can see it eventually reach a price of over $1.

GEkQKS_akAAFvzJ
Source: Bluntz/X

The Elliott Wave Theory states that the main trend of an asset’s price moves in a five-wave pattern, while a corrective wave occurs in a three-wave pattern.

WIF is trading at $0.321 at the time of writing, a staggering 323% gain from its January 8 closing price of $0.0759.

The next step is the smart contract platform Solana (SOL). Bluntz say that the fifth-largest crypto asset by market cap could soar above $150, a gain of about 72% from current levels.

Based on Bluntz’s eight-hour chart on the layer 1 crypto project, it appears that Solana may have completed a three-wave downtrend pattern and is now attempting to “test and reclaim” the zone roughly between $90 and $100 ”, before resuming a new trend. uptrend that could push the price above $150.

GEl2KYjbkAAvSns
Source: Bluntz/X

Solana is trading at $87.45 at the time of writing, up 5.66% over the past 24 hours.

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Analyst Dogecoin Exploded Higher Outlook Rival Soar Solana Top Updates weeks
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