A popular crypto analyst, known as Bluntz, is predicting good things for PONKE, a memecoin built on the Solana blockchain. PONKE has seen a massive surge in price this year, rising over 7,200% since January.
PONKE’s Bullish Structure
Bluntz believes PONKE is poised for further growth. He points to a recent breakout from an ascending channel, followed by the channel’s upper boundary becoming a support level. This pattern, he says, suggests a bullish future for the memecoin.
Bitcoin’s Potential Upside
Turning to Bitcoin, Bluntz believes it has completed a three-wave downward move on the one-hour chart. Based on Elliott Wave theory, he expects Bitcoin to start an upward trend. He even predicts that Bitcoin could reach nearly $70,000 in the near future.
A Weakening Dollar Could Boost Crypto
Bluntz also sees a potential weakening of the US dollar as a positive sign for crypto. He believes the dollar index is likely to drop to around 102 in the coming months, which could lead to increased interest in riskier assets like crypto.
Disclaimer:
Remember, this is just one analyst’s opinion. Always do your own research before investing in any cryptocurrency.
