Analyst Bluntz, one of the famous traders in the cryptocurrency world, made a positive prediction about the future of Pepe (PEPE), a popular meme coin, in his latest assessment. Bluntz’s predictions based on his technical analysis are that Pepe can gain more than 30% in value from its current value. Details of the prediction are in our news…
Bluntz’s analysis explains Pepe’s price movements by focusing on Elliott Wave theory. Elliott Wave Theory is an analysis method that argues that price movements progress in certain patterns. The five-wave structure indicates that an asset is generally in an uptrend, resulting in a strong price increase.
According to theory, a bullish asset goes through a five-wave process, where the first, third and fifth waves are periods of rapid price acceleration. The theory also holds that each major wave is composed of five smaller wave movements, known as sub-waves.
According to Bluntz’s chart analysis, Pepe’s current trend will peak with the fifth wave, which means Pepe could rise as high as $0.00000160.
“PEPE looks poised to rise more than 30% on the daily chart to achieve a clear five-wave rally, the longest of which is three waves.”
Bluntz also highlights that Pepe’s current price pattern points to an imminent breakout of key resistance levels. This shows the potential that Pepe could rise even further from its current value and investors could make a significant profit. Breaking the key resistance level could indicate strong buyer demand for Pepe and a positive sentiment in the market.
“PEPE’s wild rise is loading… targeting around 25-30% upside, RR (risk/reward ratio) still positive.”
The analyst also confirmed an upward break in the meme coin price. says.
“Let’s go. Solid rise so far. It’s been a long time since I had fun with meme coin.”
At the time of writing, PEPE is trading at $0.00000124, up 5.4% in the last 24 hours.
Trader also analyzed Solana (SOL) price. Bluntz says SOL will likely continue to rise after bankrupt FTX finishes selling its assets in Solana.
“While FTX has been selling between 250,000-700,000 SOL every day for the last two weeks, the price is either rising or remaining sideways. It’s been absorbed like a champ so far, and at the current rate the unlocked tokens are expected to run out within a week. “With this seller gone, I can only imagine how difficult it will be to move up.”
Solana is trading at $44.46 at press time.
Finally, the analyst predicts an upward break for the leading crypto Bitcoin (BTC) after a period of accumulation.
“BTC is really trying hard to break out of this vertical accumulation. “The 18-day sidetrack may finally be coming to an end.”
Bitcoin is trading at $36,576 at press time.
You can follow the current price movement here.