A well-known cryptocurrency analyst and trader, operating under the pseudonym Bluntz, is sharing his bullish outlook on a popular large-cap altcoin. According to Bluntz, the memecoin Pepe (PEPE) could potentially experience a significant price increase of over 35% based on current market trends.
Bluntz, who has a substantial following of 296,200 users on the social media platform X, recently highlighted his analysis of Pepe’s price action. He pointed out that Pepe seems to have established a local bottom after completing an ABC corrective wave on the one-hour chart. Utilizing Elliott Wave theory, which suggests that bullish assets often see a new upward movement following a three-part correction, Bluntz expressed his optimism for Pepe’s future performance.
In a recent post, Bluntz encouraged his followers to “Raise your targets” for Pepe, indicating his belief in the coin’s potential for significant growth. He shared a chart suggesting that Pepe could potentially surge to $0.00002800, signaling a positive outlook for the altcoin’s price trajectory.
Furthermore, Bluntz suggested that Pepe is showing signs of a breakout and may soon complete a five-wave pattern to the upside. He warned against prematurely assuming an all-time high retest, hinting at the possibility of a reverse trend instead.
At the time of writing, Pepe is trading at $0.00002064, reflecting a notable increase of over 160% from its recent low of $0.00000775 on November 5th. Bluntz’s analysis and projections for Pepe’s future performance have garnered attention from the cryptocurrency community.
In addition to his insights on Pepe, Bluntz also shared his perspective on Bitcoin (BTC), suggesting that the leading cryptocurrency is currently undergoing a major wave-five surge. He predicted a potential price target of $180,000 for Bitcoin, representing an impressive 83% gain from its current value.
With Bitcoin trading at $98,057 at the time of writing, up 4% in the last 24 hours, Bluntz’s bullish stance on the cryptocurrency market continues to attract interest and speculation among investors and traders.
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