The crypto strategist who nailed the Bitcoin (BTC) native high in January believes that the memecoin Pudgy Penguins (PENGU) is gearing up for one more upside burst.
The pseudonymous analyst Bluntz tells his 326,600 followers on the social media platform X that PENGU appears poised for a wave-five surge.
The dealer depends on Elliott Wave idea, which states {that a} bullish asset tends to witness a five-wave rally, with waves one, three and 5 serving as upside strikes and waves two and 4 performing as corrective durations.
Says Bluntz,
“This appears just like the PENGU wave 4, in my view. In case you missed the final run up and have been patiently ready for the pullback, it is a good one to bid. Good 33% dip after an enormous run-up is completely regular.”
Wanting on the dealer’s chart, he appears to foretell that PENGU will soar above $0.05 earlier than ending its five-wave rally. At time of writing, PENGU is price $0.0357, up over 7% up to now day.
One other meme token on the dealer’s radar is Bonk (BONK). Bluntz says the altcoin is flashing a bullish divergence on the four-hour chart, indicating that purchasing momentum is on the up and up for the altcoin though its value goes down.
Merchants hold an eye fixed out for cash exhibiting a bullish divergence, because it alerts {that a} reversal to the upside is on the horizon.
“Possible going to be a cracking four-hour bullish divergence on BONK, in all probability a great place to bid right here.”
At time of writing, BONK is price $0.000026, up almost 5% on the day.
The final memecoin on the dealer’s radar is Ineffective Coin (USELESS), which the dealer says will seemingly enter a corrective part after finishing a five-wave rally.
“That’s 5 up on USELESS from inception [up to] now. Can be bidding this once more sooner or later after the correction to the inevitable billions in market cap, however as in all issues, timing is every little thing.”
At time of writing, USELESS is price 0.246.
Comply with us on X, Facebook and Telegram
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Test Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Traders 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 danger, and any losses you might incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in affiliate internet marketing.
Generated Picture: DALLE3
