A extensively adopted cryptocurrency dealer is leaning bullish on a low-cap memecoin constructed on the Solana (SOL) blockchain.
Pseudonymous dealer Bluntz tells his 288,100 followers on the social media platform X that the hippopotamus-themed memecoin Moo Deng (MOODENG) “seems to be interesting” because it sits round 53% under its all-time excessive reached in late September.
In line with Bluntz, MOODENG can be exhibiting bullish divergence within the four-hour time-frame. A bullish divergence happens when the value of an asset is printing decrease lows whereas concurrently seeing increased lows on an oscillator indicator such because the Relative Energy Index (RSI).
MOODENG is buying and selling at $0.161 at time of writing, up by 10.38x from the September twentieth low of $0.0155.
Bluntz additional says,
“MOODENG at $150 million market cap after a 50%+ pullback is reasonable in my view.”
The dealer can be bullish on Dogecoin (DOGE), the biggest memecoin by market cap. Bluntz says DOGE is demonstrating power by making new highs in opposition to Bitcoin, in contrast to different altcoins.
“Palms are being proven.”
Dogecoin is buying and selling at 0.00000273 BTC ($0.203) at time of writing, up round 54% over the previous 30 days.
Subsequent up is Sui (SUI). In line with the pseudonymous analyst who commonly applies Elliott Wave concept in his technical evaluation, Sui is near the all-time excessive of $2.35 reached on October thirteenth.
Primarily based on the extensively adopted analyst’s chart, it seems he’s suggesting that SUI might rise to over $3 in a five-wave sample. Elliott Wave concept states that the primary development of the value of an asset strikes in a five-wave sample whereas a correction happens in a three-wave sample.
Sui is buying and selling at $2.31 at time of writing.
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