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Analyst Predicts Parabolic Rally for One Memecoin, Says Altcoin in Prime Position for ‘Turbo Green’ Week

n70products by n70products
October 3, 2024
in Altcoin
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Analyst Predicts Parabolic Rally for One Memecoin, Says Altcoin in Prime Position for ‘Turbo Green’ Week
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A crypto strategist holding a “Grasp Dealer” rank on the crypto change Bybit says one Solana (SOL)-based memecoin appears poised to have a powerful week regardless of the most recent correction.

Pseudonymous analyst Bluntz tells his 278,100 followers on the social media platform X that Bonk (BONK) appears to be within the midst of a five-wave surge.

Bluntz is a well-liked practitioner of the Elliott Wave principle, which states {that a} bullish asset tends to witness a five-wave rally.

The dealer shares a chart suggesting that BONK will rally to as excessive as $0.000033.

“Swift publish weekly dip right here which is good, BONK in prime place for a turbo inexperienced week, in my view. 

Parabola quickly.”

Image
Supply: Bluntz/X

At time of writing, BONK is buying and selling for $0.000024, up from its 24-hour low of round $0.0000216.

The dealer additionally shares a chart evaluating the value efficiency of BONK towards fellow memecoin Pepe (PEPE). In keeping with Bluntz, BONK appears primed to outperform PEPE after printing a bullish higher-low setup.

“Appears just like the chief torch is being handed from PEPE over to BONK.

Greater low being put in on the bonk/pepe chart.” 

Image
Supply: Bluntz/X

As for PEPE, the dealer thinks the most recent dip units up the memecoin for the following leg up.

“Nonetheless assume this PEPE dip is a wave 4 and an absolute reward for the sidelined bros.

Violently larger with haste.” 

Image
Supply: Bluntz/X

Primarily based on the dealer’s chart, he appears to foretell that PEPE will rally to $0.000013 earlier than concluding a minor five-wave rally.

At time of writing, PEPE is price $0.00001.

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Tags: AltcoinAnalystGreenMemecoinParabolicpositionPredictsPrimeRallyTurboWeek
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