Crypto Analyst Bluntz Predicts Bullish Divergence for Memecoins
Renowned crypto strategist Bluntz, recently awarded the prestigious “Master Trader” rank on Bybit, is optimistic about the future prospects of memecoins in the digital asset market. With a substantial following of 315,000 on the social media platform X, Bluntz shared insights on the potential rise of meme token Floki (FLOKI), pointing out a bullish divergence signal on the daily chart.
A bullish divergence is a significant indicator of a potential bullish reversal, signaling that an asset is gaining momentum despite a drop in price or sideways movement. Bluntz expressed his views on the matter, stating, “There is a monster FLOKI bullish divergence printing here after it swept a MAJOR level, could print today or tomorrow. Love it or hate it, the meme meta is probably staging a comeback here.”
As of the latest update, FLOKI is currently trading at $0.000098. Bluntz also analyzed the performance of another memecoin, Dogecoin (DOGE), suggesting that the crypto asset has completed an ABC corrective wave against the US dollar and Bitcoin (DOGE/BTC). Leveraging the Elliott Wave theory, which posits that a bullish asset typically experiences a fresh five-wave rally following an ABC pullback, Bluntz predicted a potential 200% surge for Dogecoin.
“Memes largely out of favor here and getting dunked on big time but with the big dog DOGE looking like this, it may be time. HUGE ABC down on the [daily chart] on the USD and BTC pair. Potential 2-3x coming up,” Bluntz emphasized.
DOGE is currently trading at $0.264. In addition to memecoins, Bluntz is closely monitoring the TOTAL3 chart, which tracks the market cap of all crypto assets excluding Bitcoin, Ethereum (ETH), and stablecoins. This chart serves as a valuable tool for assessing the performance of the altcoin market.
According to Bluntz, TOTAL3 has completed an ABC correction and is poised for a surge towards a new all-time high of $1.3 trillion. “This bounce seemingly turning into a full-blown V reversal. TOTAL3 completely reclaimed the breakdown and looks like a clean ABC. Very hard to not be bullish here,” Bluntz remarked.
At present, TOTAL3 is trading at $889.814 billion. For the latest updates and alerts on the crypto market trends, subscribe to receive email notifications directly to your inbox. Stay informed about price action and follow us on X, Facebook, and Telegram. Don’t miss out on the latest developments in the crypto space.
In collaboration with Midjourney, the generated image complements the insightful analysis provided by Bluntz. Stay tuned for more updates and strategic insights from the crypto market experts.