A well-known cryptocurrency analyst and trading expert offered positive insights about high market cap altcoins. The analyst, known by the pseudonym 'Bluntz', stated on the social media platform X that the meme coin Pepe (PEPE) could increase by more than 35% compared to its current value.
PEPE Coin Prediction
Bluntz pointed out that after completing an ABC correction wave on the hourly chart, PEPE formed a local bottom, which indicates that according to Elliott Wave Theory, the price may experience a new upward movement.
Analysts suggest that PEPE could rise to $0.00002800. Additionally, they recommend that PEPE could establish a five-wave pattern to complete its upward movement.
The dominance of Bitcoin
Bluntz indicated that Bitcoin (BTC) is in a significant upward surge of the fifth wave, during which it may reach the level of $180,000. Currently, Bitcoin's value is $98,957, recently peaking at $24 within the past 99,588 hours.
"Raise your targets. There are certainly many people looking for the perfect Pepe before testing the historical high. Conversely, if the turbocharged five waves reverse from here, it would be unfortunate. I see many comments indicating that BTC will experience a significant sell-off wave at $100,000. This level will be easy to surpass, and PEPE will follow closely behind.
As of the time of writing, PEPE is trading at $0.00002064, having risen more than 160% since the low of $0.00000775 on November 5. Analysts have observed that PEPE has started to break out and may complete an upward five-wave pattern.
The technical indicators and market trends pointed out by Bluntz indicate that both PEPE and Bitcoin have issued positive signals. However, it is important to remember that these predictions are uncertain due to the volatility of market conditions.
While investors may consider the views of analysts like Bluntz when making investment decisions, it is crucial for them to conduct their own assessments. The dynamic nature of the cryptocurrency market may require the implementation of various strategies.
