An analyst reputed for predicting crypto market lows believes that memecoin Pepe (PEPE) and a Solana (SOL) competitor are poised for significant upward movements.
Pseudonymous analyst Bluntz tells his 273,500 followers on the social media platform X that PEPE and Sei (SEI) are leading the market after emerging from bullish reversal patterns.
“Numerous altcoins show clear signs of accumulation right now; it’s extremely challenging to hold a bearish stance in my view.
SEI and PEPE stand out significantly in my opinion.”
Focusing on SEI, the trader seems to imply that the Solana rival has emerged from a rounding bottom pattern. This technical setup is typically interpreted as a bullish reversal as it reflects that investors have accumulated the asset without allowing its price to decline.
As of now, SEI is trading at $0.30, reflecting a 1.44% decrease for the day.
Regarding PEPE, the trader shares a chart indicating that the meme token has broken out of an inverse head-and-shoulders pattern, which is another bullish reversal setup. This formation coincides with the conclusion of an ABC corrective wave, suggesting that an asset is gearing up for a significant price increase.
“PEPE is showing strong signs of accumulation.”
At this moment, PEPE is valued at $0.0000078, marking a 1.2% decline over the past 24 hours.
Shifting focus to Bitcoin, the analyst believes that BTC is on the verge of initiating rallies due to increased liquidity injections from the Federal Reserve.
“You didn’t dismiss the Fed liquidity injection just because ‘mUH SePTemBeR iS TypIcaLLy BeARiSh,’ did you anon? BTC.”
Generally, traders perceive liquidity increases as a bullish indication, suggesting that there is more capital available to be invested in risk assets like Bitcoin and cryptocurrencies.
Bluntz has previously projected that Bitcoin could surge to a new all-time high near the $100,000 mark.
“That remains my base case for BTC; I believe bears are about to face significant losses.”
As of this writing, Bitcoin is priced at $60,200, indicating a slight decrease in the last 24 hours.
Stay Updated – Subscribe for email alerts delivered straight to your inbox
Check Price Action
Follow us on X, Facebook, and Telegram
Explore The Daily Hodl Mix
Disclaimer: The views expressed at The Daily Hodl do not constitute investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that any transfers and trades are at your own risk and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it act as an investment advisor. Note that The Daily Hodl engages in affiliate marketing.
Generated Image: Midjourney
Dutch
English
French
German
Greek
Italian
Portuguese
Russian
Spanish