A widely followed cryptocurrency analyst and trader is predicting one top 20 altcoin will soon have an explosive breakout.
The analyst pseudonymously known as Bluntz tells his 304,200 followers on social media platform X that Ethereum (ETH)-based decentralized oracle Chainlink (LINK) may surge after completing an ABC correction on the 12-hour chart.
[adinserter block="1"]Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to see more rallies after concluding an ABC wave pullback.
“LINK continues to look strong here against USD and BTC pair. Working real hard on the range breakdown reclaim, I think this will be at least 50% higher in the next week or two.”
He also says that the market correction this week creates a buying opportunity for LINK.
“There are some good setups now on these mega flushes. LINK is one of them.”
LINK is trading for $23.65 at the of writing, up 12.2% in the last 24 hours.
Next up, the trader says that Pepe (PEPE) is set up for an explosive rally after the memecoin retested a lower bound of a trading range on the hourly chart.
“PEPE held like a champ but still managed to fake out both sides of the range. These setups f**k everyone, bulls and bears, but with the lows taken I think this mega sends.”
PEPE is trading for $0.00002495 at time of writing, up 6.4% in the last 24 hours.
The analyst also predicts a broader crypto market rally after this week’s sudden dip.
“Nothing like a good liquidation to fuel the next parabolic leg higher.”
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