An expert analyst who is known for accurately predicting altcoin movements has set his sights on Dogecoin (DOGE), the popular memecoin, suggesting that it is gearing up for a significant price surge.
Bluntz, a pseudonymous analyst with a large following on X, believes that DOGE is in the early stages of a new five-wave rally on the 12-hour chart. According to Elliott Wave theory, a bullish asset typically experiences a five-wave surge before undergoing an ABC-wave correction.
In a recent update, Bluntz expressed his confidence in DOGE’s upward momentum, stating, “Monster DOGE move overnight, now looking undeniably impulsive again, in my opinion. The move back up to fresh highs above $0.50 is probably underway.”
Based on his analysis, Bluntz predicts that Dogecoin could reach prices above $0.60 before completing its fifth-wave rally. He is also closely monitoring the DOGE/BTC trading pair, suggesting that DOGE will outperform Bitcoin as the bull market progresses.
On the Ethereum front, Bluntz is bullish on both the USD and BTC trading pairs. He believes that Ethereum’s recent price action indicates that its relative underperformance may be coming to an end. “Solid two-week range breakout on ETH here with a nice higher low being put in on ETH/BTC high timeframe. Clowning on ETH is easy and fun until it isn’t,” he remarked.
At the time of writing, DOGE is trading at $0.379, while Ethereum is valued at $3,618. As market dynamics continue to evolve, Bluntz’s insights offer valuable perspectives for crypto investors looking to capitalize on potential price movements.
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