Crypto analyst Bluntz, known for his successful predictions, states that there is an exciting rise potential for Dogecoin (DOGE), one of the most remarkable assets of the market. An indicator shows an upward trend in the value of the meme coin, which is attracting the attention of investors.
According to Bluntz’s analysis, the weekly chart of the pair (DOGE/BTC) where Dogecoin trades against Bitcoin gives a strong bullish signal. This shows that DOGE may start to gain value against Bitcoin.
The analyst said his previous stance on Dogecoin stemmed from his doubts that the asset’s price would not be able to move beyond the levels he expected. admission did. However, developments and technical analyzes in recent weeks indicate that Dogecoin may gain a potential upward momentum. In particular, the major bullish divergence in the weekly DOGE/BTC pair indicates that prices are ready to move into an uptrend.
“I was kind of avoiding DOGE because I didn’t think it would beat WIF anywhere near the multiples I thought it would BUT……. This is a very big bullish divergence in the weekly DOGE/BTC pair. I might have to buy a bag after all.”
NEWS CONTINUES BELOW
A bullish divergence usually refers to a situation where momentum indicators are giving bullish signals while the price of an asset is falling. This indicates that buyers in the market are gaining strength and prices may start to rise. Bluntz’s analysis is that the meme coin price may increase against Bitcoin and investors can seize this opportunity.
At the time of writing, DOGE/BTC is trading at 0.00000257 BTC ($0.16).
The analyst also closely follows the popular altcoin Filecoin (FIL). According to Bluntz, we are still at an early stage for FIL as the altcoin is trading in a long accumulation period.
“We are finally starting to see some movement in FIL again, the weekly candle here is nice. As a result, although it is on the rise, it is still in a large accumulation range and it is definitely too early for that.”
Although Filecoin has started to show an upward trend recently, as Bluntz stated, it is observed that this movement occurs after a long accumulation process. Therefore, investors need to take their time and fully evaluate FIL’s potential. The analyst’s words serve as a warning to investors to be careful and not make sudden decisions.
At the time of writing, FIL is trading at $10.26, up over 10%.
You can follow the current price movement here.
