A crypto strategist holding a “Grasp Dealer” rank on the crypto trade Bybit says one Solana (SOL)-based memecoin seems poised to have a powerful week regardless of the newest correction.
Pseudonymous analyst Bluntz tells his 278,100 followers on the social media platform X that Bonk (BONK) seems to be within the midst of a five-wave surge.
Bluntz is a well-liked practitioner of the Elliott Wave concept, 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 submit weekly dip right here which is right, BONK in prime place for a turbo inexperienced week, for my part.
Parabola quickly.”
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 response to Bluntz, BONK seems primed to outperform PEPE after printing a bullish higher-low setup.
“Appears to be like just like the chief torch is being handed from PEPE over to BONK.
Increased low being put in on the bonk/pepe chart.”
As for PEPE, the dealer thinks the newest dip units up the memecoin for the subsequent leg up.
“Nonetheless assume this PEPE dip is a wave 4 and an absolute present for the sidelined bros.
Violently increased with haste.”
Based mostly 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.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Test Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl usually are not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your accountability. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney