- A renowned crypto analyst has predicted that dogwifhat (WIF) could surge from the current level to $1 since it is on the second wave of the five wave patterns using the Elliott Wave theory.
- He also predicts that Solana could stage a 72% bull run from the current price to hit $150.
A renowned crypto analyst identified as Bluntz has dropped a massive prediction for Dogecoin rival dogwifhat (WIF) and Solana (SOL). Speaking to his 237,900 followers on X, the analyst admitted that the current market cycle looks a little bearish, but WIF has shown a rare resilience as it maintains a fair level above its critical support line.
According to Bluntz, WIF bottomed out at $0.10 and could trade far above this level when the current market cycle expires. As of press time, the meme coin was trading at $0.361886. Analysts have observed that WIF has a current bearish market sentiment with a score of 0/100, however, the asset has managed to record a 5% growth in the last 24 hours. In the past three months, WIF has surged by 115.32%, adding $0.193817 to its previous price.
It is important to note that Bluntz is a big fan of the Elliott Wave theory. This theory looks for recurrent long-term price patterns that have to do with persistent changes in investor sentiment and psychology. It identifies five waves which include impulse waves that set up a pattern and corrective waves that oppose the larger trend.
Solana Could Join WIF for the Bull Run
Upon analyzing the one-day chart, Bluntz observed that WIF is on the second wave of the five wave patterns. According to him, the asset is building momentum for about a 270 percent price surge that could send the price to $1. It is noteworthy that the meme coin has made an incredible run of 323 percent from the January 8 low of $0.0759.
The analyst also spoke on Solana (SOL), predicting another staggering move in the coming days. The smart contract platform has been one of the best-performing cryptos from 2023, with a 171.05% surge in the last three months. However, the price has made a marginal fall in the ongoing cycle, recording a loss of 1.16% and 8% in the last 24 hours and seven days respectively to trade at $87.35.
Bluntz is reported to have analyzed an eight-hour chart and observed that Solana has completed the three-wave downtrend pattern. In his report, Solana’s major target right now is to get into the “test and reclaim” zone which is in the range of $90 and $100. According to Bluntz, the asset could make a 72% surge from the current zone to hit $150.
Interestingly, Analyst Pentoshi expects Solana to continue its downward trend to $70 by March 31. From that level, he predicts that the asset could make a quick recovery to hit $90.
$SOL update #1. Not sure we get as low as I have here, but do expect at some point to be able to bid in the $70’s. Looking forward to not just trading sol, but holding some eco-system coins for the next year or so.
Analyst Altcoin Sherpa also predicted earlier that the asset could dip to “specific Fibonacci retracement levels – 0.382 at $84.50 or 0.50 at $71.67.” To him, these are perfect entry points for long-term investment.
