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As you have been following on Kriptokoin.com, the market went into a bit of a consolidation mode over the weekend.
A cryptocurrency analyst with a large following is predicting massive gains for a low-volume meme coin and remaining hopeful for a token as it relates to AI hype.
Bluntz Predicts a ‘Nuclear’ Rally for CAT!
As reported by Kriptokoin.com, the market entered a consolidation phase over the weekend. Bitcoin, the leading cryptocurrency, managed to settle above $63,000 but is struggling to advance further. Despite the green market, the intensity of trading was lower over the weekend.
However, some tokens are showing promise for the future. A veteran analyst known as Bluntz says a major breakout is coming for the meme coin inspired by felines, Simon’s Cat (CAT).
“Cat season is alive and kicking. CAT continues to accumulate and then explode vertically. Also, the cryptocurrency price has been rising steadily since launch. I think a nuclear rally is about to happen.”
According to Bluntz’s chart, CAT is breaking out of an ascending channel on the four-hour timeframe.
At the time of writing, CAT is trading at $0.00004522, up nearly 291% from its August 22 low of $0.0000109. The meme coin also saw an increase of over 17% on its daily chart.
CAT is based on the popular British animated web and book series Simon’s Cat. The cryptocurrency, which debuted last month, currently has a market capitalization of just over $300 million.
According to the analyst, this cryptocurrency will raise its head again!
The analyst also shared his views on the layer-1 blockchain Near Protocol (NEAR). According to Bluntz, the cryptocurrency price is starting to rise. Moreover, this rise can be supported by the hype around artificial intelligence (AI) technology.
In May this year, NEAR announced that it was developing tools that would enable users to develop their own AI applications on the protocol. The analyst has this to say about NEAR:
“I like NEAR again here, the token is starting to pull its head out of its six-month downtrend. I’m sure the AI narrative will rear its head again at some point.”
According to the analyst’s chart, NEAR is trying to break its diagonal resistance.
Meanwhile, NEAR was trading at $4.55 at the time of writing, up over 4% on a daily basis. The cryptocurrency also advanced 8.5% on its weekly chart.
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Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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