Crypto Traders Anticipate Memecoin on Solana Breaking Past Previous Record Highs
Daily Hodl's Uncensored Cryptocurrency Insights
- Crypto Market Analysis
Cryptocurrency analyst and trader Bluntz believes one Solana-based memecoin is on the brink of unprecedented highs. According to him, the memecoin SPX6900 appears to have completed an ABC correction, which signals a robust foundation for the next price surge.
In his analysis, Bluntz emphasizes the Elliott Wave theory, stating that a strong rally often follows an ABC correction. He predicts SPX6900's price to increase to $2.10, skyrocketing nearly 50% from its current trading price of $1.47.
Bluntz also expresses optimism about AI16Z, as the altcoin seems to be entering an uptrend after retesting the Fibonacci retracement level at $0.16. By utilizing the Fibonacci retracement tool, traders can identify potential entry/exit points based on the Fibonacci ratio.
Bluntz expects AI16Z to surpass $0.45 and reach fresh highs based on its technical setup. As of writing, AI16Z is trading at $0.17, representing a 7% growth in the past 24 hours.
- Industry Announcements
Bubblemaps Integrates With TON: Bubblemaps has partnered with TON, Telegram's native blockchain, to improve transparency in the TON ecosystem.
NATIX Network Launches DePAI Initiative: NATIX Network has unveiled its Decentralized PIN (DePIN) Infrastructure and Decentralized AI (DeAI) initiative. The initiative aims to combine DePIN and DeAI technologies, revolutionizing the way data is processed and stored.
BitVault Raises $2 Million: BitVault, a Bitcoin-backed money platform, has managed to raise $2 million in funding from investors like GSR, Gemini, and Auros.
TAC Raises $11.5 Million: TAC, a DeFi project, has secured $11.5 million to bring DeFi solutions to Telegram's billion-user ecosystem.
[1] Elliott Wave theory - An investment strategy used by daily traders and technical analysts focused on the repetitive patterns in certain markets.
[2] Fibonacci retracement tool - A technical analysis tool used for predicting support and resistance levels within a financial market based on Fibonacci ratios.
[3] Cryptocurrencies and digital assets come with inherent risks. Before making high-risk investments, it's essential to conduct thorough research. The Daily Hodl recommend users to not treat the information provided as investment advice and to exercise caution while handling transfers and trades, as losses can occur due to risky nature of the investments.
- The Elliott Wave theory, which is an investment strategy focusing on repetitive patterns in certain markets, is being utilized by analyst Bluntz to predict a strong rally for the altcoin AI16Z, following an ABC correction.
- In the realm of finance, the integration of Bubblemaps with TON, Telegram's native blockchain, is expected to enhance transparency within the TON ecosystem, while the NATIX Network's Decentralized PIN (DePIN) Infrastructure and Decentralized AI (DeAI) initiative aims to revolutionize data processing and storage using DePIN and DeAI technologies.
