A widely followed cryptocurrency analyst and trader is turning bullish on one red-hot large-cap altcoin.
The analyst pseudonymously known as Bluntz tells his 296,200 followers on social media platform X that memecoin Pepe (PEPE) could soar more than 35% from its current value.
The trader says the Pepe appears to have printed a local bottom after completing an ABC corrective wave on the one-hour chart.
He uses Elliott Wave theory, which states that a bullish asset often witnesses a fresh leg up after a three-part ABC correction.
“Daily reminder that Pepe is going to turbo send. Raise your targets.”
Looking at his chart, the trader suggests Pepe may surge to $0.00002800.
He suggests Pepe is starting to break out and may go on to complete a five-wave pattern to the upside.
“There sure are lots of people looking for that picture-perfect Pepe prior [to an] all-time high retest. Would be an awful shame if it turbo five-wave reversed from here instead.”
Pepe is trading for $0.00002064 at time of writing, up more than 160% from its $0.00000775 low on November 5th.
Next up, the analyst suggests that Bitcoin (BTC) is in the midst of a major wave-five surge that could send it to $180,000, a more than 83% gain from its current value.
“Seeing lots of chat about $100,000 BTC being some magical line in the sand number that we will reject from. $100,000 will get eaten up easily in my opinion, still plenty of legs to go within this macro wave five.”
Bitcoin is trading for $98,057 at time of writing, up 4% in the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
