China News Daily TheBitTimes.com

A widely followed analyst is leaning bullish on a memecoin in the Solana (SOL) ecosystem amid a rout that has seen the crypto asset lose 72% of its value from the all-time high. The analyst pseudonymously known as Bluntz tells his 314,000 followers on the social media platform X that dogwifhat (WIF) might have bottomed out after completing a correction in a three-wave pattern on the weekly time frame. The analyst who regularly applies the Elliott Wave theory in his technical Analysis says that while WIF’s bearish trend lasted longer than he had originally anticipated, there are “some nice signs of life forming” on the memecoin’s low time-frames. 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. While cautioning that it’s too early to conclude that a bull run is underway, Bluntz says, “Obviously very early days and we haven’t seen a five-wave rise...

A crypto strategist known for making timely altcoin calls believes layer-1 protocol Sui (SUI) is gearing up to spark breakout rallies. Pseudonymous analyst Bluntz tells his 274,600 followers on the social media platform X that SUI appears to have ignited a new bullish trend after printing a higher low setup amid the conclusion of an ABC corrective wave. Bluntz relies on the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave surge after completing an ABC corrective pattern. The analyst shares a chart suggesting that SUI can rise to as high as $1.80 in the next few weeks. “SUI back in a technical high timeframe uptrend again, higher lows and higher highs + key level taken out already. It’s gonna surprise a few people in the next weeks to months, in my opinion.”  Source: Bluntz/X At time of writing, SUI is worth $1.17, up over 13% in the last 24 hours. Looking at the feline-themed memecoin Simon’s Cat (CAT...