A seasoned crypto expert who holds the “Master Trader” title on the Bybit digital asset exchange is outlining a positive outlook for the leading memecoin Dogecoin (DOGE).
The analyst known as Bluntz informs his 285,600 followers on the platform X that DOGE exhibits strength across all time frames.
The trader provides a chart that indicates DOGE has broken through a diagonal resistance that had been in place for approximately six months.
“To me, it seems like DOGE is currently extracting liquidity from the entire meme ecosystem.
In my view, nothing looks as bullish as DOGE across all time frames.
DOGE used to perform this way during previous altseasons, where it would surge while other coins remained stagnant.
I’m definitely experiencing a déjà vu moment.”
The trader shares an additional chart that indicates DOGE might surpass its resistance at around $0.228.
“DOGE.”
As of this writing, DOGE is priced at $0.144.
Bluntz is also optimistic about another memecoin, Floki (FLOKI). He believes that FLOKI must break through its immediate resistance at $0.00018 to trigger rallies toward all-time highs.
“The macro ABC pattern on FLOKI seems complete, and we are nearing a three-month accumulation breakout. Once it breaks through, I expect we’ll see new all-time highs fairly quickly, in my opinion.
I’ve added some to my long-term non-trading holdings today.”
Bluntz utilizes the Elliott Wave theory, which posits that a bullish asset typically sees a new uptrend following the conclusion of an ABC correction. Based on the trader’s chart, it seems he anticipates FLOKI will climb to new record highs of $0.0005.
At the time of this writing, FLOKI is trading at $0.000158.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should perform due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Your transfers and trades are at your own risk, and any potential losses you may incur are your responsibility. The Daily Hodl does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not an investment advisor. Please be aware that The Daily Hodl engages in affiliate marketing.
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