Bluntz, one of the important analysts in the cryptocurrency markets of 2018, attracted attention with his prediction about the future of dogwifhat (WIF), a meme coin on the Solana (SOL) network. Bluntz believed WIF would reach an all-time high, completing its five-wave rise.
According to the analyst, WIF’s price movement follows a five-wave structure, and when this structure is completed, the coin is predicted to reach record highs. Bluntz’s to your prediction According to WIF, it needs to take another step from its lows to its all-time highs. If it completes this step, the meme coin could rise to a record high of $4.50.
“To fully complete the five-wave structure, WIF needs to take another step from its lows to all-time highs. So for now, we see this pullback as another fourth wave with a final rally to an all-time high yet to come.”
Elliot Wave theory is a technical analysis tool that predicts future price movements by manifesting in waves and following crowd psychology. According to the theory, a bullish asset goes through a five-wave process, where the first, third and fifth waves are periods of rapid price acceleration.
At the time of writing, meme coin is trading at $2.6, up over 10%.
Bluntz also examined the leading altcoin Solana (SOL). Bluntz’s approach is quite remarkable. While many investors choose to focus on assets that fall the most during market corrections, Bluntz follows a reverse strategy. According to him, among the declining assets, those that suffered the least losses could potentially show a stronger recovery. This strategy may be particularly applicable to well-established projects such as SOL.
“End [48] Note what falls the least per hour. I usually like to focus on the coin that has fallen the least after market wide declines, most people like to focus on the coin that has fallen the most because they think they are getting a better entry but I really disagree with that train of thought.
“The LEFT clearly stands out.”
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