One trader, known for his well-timed calls on altcoins, believes that Solana is (SOLThe )-based token meme has gained a lot of popularity.
Pseudonymous Bluntz informs 263,800 of his followers on social media platform X, that memecoin is dogwifhat.WIFIt is possible that ) has carved a base.
WIF, according to the analyst is showing signs of bullish reversal in the lower-time frame following a sharp correction after its previous high of $4.83.
The bottom of the WIF is in.
The structure of the three waves played out exactly how I envisioned.
The first five-wave impulse from lows is now underway.
I think it’s a significant bottom, and 1.46 is holding. Am now back to WIF.”
Bluntz follows the Elliott Waves theory. This states that an asset is bullish if it experiences a 5-wave rally, followed by ABC three-wave correction. The trader seems to indicate that WIF completed a five wave rally in the hourly chart. This signals a change of trend.
Chart also indicates that WIF is nearing the end of an ABC correction, and appears to be poised for a rise above $3.
The WIF currently has a value of $2.01.
Bluntz also has high hopes for the altcoin focused on artificial intelligence (AI), Fetch.ai.FET). FET flashes multiple signals, according to the top trader. This suggests that the correction has ended.
FET is the AI story I’ve chosen.
Pullback and -68% drop peak to trough.
This is what I believe to be a bottom. It will also turbo-pump.”
FET currently trades for $1.35.
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Source: dailyhodl.com
