A well-known crypto strategist, Bluntz, has recently made some intriguing predictions about the future of Dogecoin (DOGE) and Hyperliquid (HYPE) in the market. According to Bluntz, DOGE is showing signs of gearing up for a breakout surge, while HYPE may be heading towards a deep drawdown.
Bluntz, who has a strong following on social media platform X, shared his analysis with his followers. He believes that DOGE is currently carving a local bottom and is on track for a bullish reversal. The trader shared a chart indicating that DOGE seems to be forming an Adam and Eve pattern, along with completing an ABC corrective move. This suggests that DOGE may soon rally to $0.34, significantly higher than its current trading price of $0.251.
Utilizing the Elliott Wave theory, Bluntz also pointed out that DOGE is likely to witness a five-wave rally after the ABC-wave correction, indicating a potential upward trend. The Adam and Eve pattern further supports the idea that DOGE is bottoming out, with bulls preparing for a price hike.
On the other hand, Bluntz’s analysis of HYPE painted a less optimistic picture. He predicts that HYPE is set to experience a deep drawdown, potentially falling below $20. Currently trading at $24.14, HYPE has already seen a decline of over 5% in a single day.
As always, it’s essential to stay updated with the latest market trends and expert opinions in the crypto space. Bluntz’s insights provide valuable information for traders and investors looking to make informed decisions in the ever-changing world of cryptocurrencies.
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Image Source: Midjourney