A crypto strategist holding a “Grasp Dealer” rank on the crypto trade Bybit says one Solana (SOL)-based memecoin appears to be like poised to have a robust week regardless of the most recent correction.
Pseudonymous analyst Bluntz tells his 278,100 followers on the social media platform X that Bonk (BONK) appears to be like to be within the midst of a five-wave surge.
Bluntz is a well-liked practitioner of the Elliott Wave idea, 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, in my view.
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 worth efficiency of BONK in opposition to fellow memecoin Pepe (PEPE). In response to Bluntz, BONK appears to be like primed to outperform PEPE after printing a bullish higher-low setup.
“Appears just like the chief torch is being handed from PEPE over to BONK.
Greater low being put in on the bonk/pepe chart.”
As for PEPE, the dealer thinks the most recent dip units up the memecoin for the following leg up.
“Nonetheless suppose this PEPE dip is a wave 4 and an absolute reward for the sidelined bros.
Violently increased with haste.”
Primarily based 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 e-mail alerts delivered on to your inbox
Verify Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual danger, and any losses you could incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please notice that The Every day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney
