One meme coin running Solana (SOL) is showing signs of a bullish reversal, says an analyst who continues to gain support with timely altcoin calls.
Pseudonymous analyst Brantz told his 255,700 followers on social media platform he said.
“$1.80 hit and it shot up to 0.618 on WIF.
There has been a promising reaction so far and we hope this is a low, but we will wait for an impulsive 5-wave rise in a short time frame of 30 minutes to an hour for confirmation. ”
Mr. Brandts practices Elliott Wave Theory. This means that the bullish asset will go through a corrective move on ABC before witnessing a new wave of his 5th rise.
Continuing his WIF analysis, Brandts said memecoin’s latest price movements suggest that an upward move is imminent.
“And we had a nice five-wave rise off the low and ABC as well.
In my opinion WIF seems good here, hats off. ”
As of this writing, WIF is worth $2.64.
Brantz is also bullish on Ethereum (ETH) competitor NEAR. According to the trader, NEAR has experienced an over 50% correction in just one month, creating an opportunity for long-term holders.
“NEAR is currently working on many things.
50% drop from peak to trough, ABC has fallen from the high, wave C has 5 sub-waves, and 4-hour RSI (Relative Strength Index) is at levels not seen since the literal bottom of $1. It's extremely oversold.
In my opinion, this would be a great entry in time. ”
At the time of writing, NEAR is valued at $5.46, an increase of over 26% from its April low of $4.31.
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