A cryptocurrency analyst and trader who accurately predicted a Bitcoin (BTC) correction in January following a massive rally says one altcoin built in the Solana (SOL) ecosystem is set to skyrocket by over 2x.
The analyst pseudonymously known as Bluntz tells his 327,800 followers on X that the Fartcoin (FARTCOIN) memecoin has bottomed out after breaking above a downtrend on the three-day time frame.
Bluntz, who regularly applies the Elliott Wave theory in his technical analysis, says Fartcoin has completed a three-wave correction, a downward reversal that ended at the 61.8% Fibonacci retracement level. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.
On the price outlook for Fartcoin, Bluntz says,
“This is an easy play for 150% or so higher.”
Fartcoin is trading at $0.86 at time of writing.
Next up is the Useless Coin (USELESS) memecoin. According to Bluntz, USELESS has completed a correction and is on the cusp of a “full send” upward. Based on Bluntz’s chart of USELESS on the 12-hour time frame, it appears he is suggesting the memecoin could rally by around 140% from the current price to hit a new all-time high of about $0.60.
USELESS is trading at $0.25 at time of writing, down by about 40% from the all-time high of $0.42 reached in July.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
