A broadly adopted cryptocurrency analyst and dealer is popping bullish on a memecoin constructed within the Solana (SOL) ecosystem.
The analyst pseudonymously often known as Bluntz tells his 286,900 followers on the social media platform X that Popcat (POPCAT) is “about to go parabolic.”
Bluntz says that Popcat has stayed “insanely sturdy” amid a correction within the crypto market over the previous few days.
“Energy throughout marketwide pullbacks normally turns into plain outperformance throughout market-wide power.”
Based mostly on a four-hour chart by the pseudonymous analyst who recurrently applies the Elliott Wave idea in his technical evaluation, it seems that Bluntz is suggesting that Popcat may surge to above $2.30 in a five-wave sample. The Elliott Wave idea states that the primary development of the worth of an asset strikes in a five-wave sample whereas a correction happens in a three-wave sample.
The pseudonymous analyst additionally says that Popcat, which had earlier reached an all-time excessive of round $1.67, has damaged out of an ascending channel on the each day timeframe.
“First time I’ve seen a channel breakout into an all-time excessive, normally they occur at bottoms.”
Popcat is buying and selling at $1.58 at time of writing, up by round 40,415% from the all-time low of $0.00379 reached in early January.
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