Analysis Crypto by Thebittimes.Com

A closely followed analyst believes the meme token Floki (FLOKI) is gearing up for rallies en route to fresh all-time highs (ATHs). Pseudonymous analyst Bluntz tells his 306,200 followers on the social media platform X that FLOKI appears to have completed an ABC correction on the daily chart. Bluntz uses the Elliott Wave theory, which states that a bullish asset tends to ignite a five-wave upside move after completing an ABC retracement. “FLOKI is another major meme looking turbo bullish in my opinion and heading to ATHs. Price action from the November highs looking like another high timeframe ABC with a fresh impulse looking underway, ATH before the end of the cycle is inevitable in my opinion.” Source: Bluntz/X Based on the trader’s chart, he seems to predict that FLOKI will surge close to $0.0004 by March. At time of writing, FLOKI is worth $0.0002. The analyst is also watching the US dollar index (DXY), which traders use as a barometer fo...

A widely followed cryptocurrency trader is leaning bullish on a low-cap memecoin built on the Solana (SOL) blockchain. Pseudonymous trader Bluntz tells his 288,100 followers on the social media platform X that the hippopotamus-themed memecoin Moo Deng (MOODENG) “looks appealing” as it sits around 53% below its all-time high reached in late September. According to Bluntz, MOODENG is also exhibiting bullish divergence in the four-hour time frame. A bullish divergence occurs when the price of an asset is printing lower lows while simultaneously seeing higher lows on an oscillator indicator such as the Relative Strength Index (RSI). Source: Bluntz/X MOODENG is trading at $0.161 at time of writing, up by 10.38x from the September 20th low of $0.0155. Bluntz further says, “MOODENG at $150 million market cap after a 50%+ pullback is cheap in my opinion.” Source: Bluntz/X The trader is also bullish on Dogecoin (DOGE), the largest memecoin by market cap. B...

Despite Ripple’s selling spree, which has so far included offloading a total of 350 million XRP from its treasury reserves in September, XRP (XRP) has managed to resist the bearish pressure and has recovered from the brief negative reaction, and one cryptocurrency expert has made a bold prediction. As it happens, XRP looks like a “time bomb waiting to explode” or, in other words, ready for a massive breakout based on its current chart patterns, according to pseudonymous crypto market expert Mikybull Crypto, who has shared this bold prediction in an X post on September 25. $XRP is looking like a time bomb waiting to explode. This cycle will be interesting. — Mikybull Crypto (@MikybullCrypto) September 25, 2024 Why XRP might explode soon Indeed, as XRP’s technical chart indicates, its 50-period simple moving average (SMA) has recently crossed above the 200-period SMA in the ‘golden cross’ pattern that typically suggests a bullish signal, whereas its relative...