Analyst Bluntz Predicts 63% Upside for NEAR Protocol, Says Uptrend for Meme Coins Will 'Start Again Soon'

One of the cryptocurrency market's well-known analysts has given a bullish signal for both one of the popular altcoin projects and a low-cap meme coin.

Cryptocurrency market analyst Bluntz has given a bullish signal for both a popular altcoin project and a low-cap meme coin. The analyst also suggested that Bitcoin could reach six figures in the coming period.

Bluntz sees opportunity in Bitcoin and popular altcoin project

Analyst Bluntz, who goes by the pseudonym, told his 265,200 followers on social media platform According to Bluntz, NEAR broke out above the upper boundary of the ascending channel on the four-hour chart, a pattern typically considered bullish. The analyst says:

Channel breakouts that slowly move upwards are among my favorites to trade. The longer the channel continues, the stronger the resulting breakout.

nice little abc done on $wif hourly, next leg up on most memes starts again soon.

According to Bluntz’s chart, the analyst suggests that NEAR repeats a similar pattern exhibited by Bitcoin before moving higher in late 2023. Additionally, Bluntz hints that NEAR could surge 63% to above $10 in the coming weeks.

Bluntz is a name that frequently uses Elliott Wave theory in his technical analyses. According to the analyst, meme coin WIF has completed a three-wave correction pattern on the one-hour chart. According to Elliott Wave theory, the main trend of an asset’s price moves in a five-wave pattern, while the correction occurs in a three-wave pattern. Bluntz also says that the uptrend for most meme coins will “start again soon.”

Low-volume, 7,000 percent up meme coin PONKE attracts attention

Bluntz also stated that he expects an increase for PONKE (PONKE), a low-volume memecoin built on the Solana (SOL) blockchain. According to the analyst, PONKE signals a bullish structure after breaking out of an ascending channel and then converting the upper boundary of the ascending channel into a support level. As of writing, PONKE is trading at $0.681 and is up approximately 7.238% from the January 3 low of $0.00928.

so many meme charts are now putting in structures that we saw in sol shitters that 100x'd earlier in the cycle ive mentally bookmarked as extremely bullish ones.

Another analyst who follows the cryptocurrency market closely thinks that an altcoin that has achieved tremendous gains in the last year will continue its rise. Crypto strategist Michaël van de Poppe also addresses his 722,300 followers on social media platform OM is currently trading at $1.29, which represents a small increase on a daily basis. In August last year, OM was trading at $0.018.

As for Bitcoin, van de Poppe argues that Bitcoin should continue to grow as long as it stays above the $60,000 level. Analyst says Bitcoin is breaking gold record, yields are falling and it is just a matter of time for Bitcoin to rise. Van de Poppe examines metrics such as Bitcoin miners’ capitulation rate and hashrate decline and believes the next rise of the most market-dominant crypto asset will take it to six figures.