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