An analyst with the “Master Trader” rank on Bybit, a crypto exchange, has identified two top memecoins that could be on the verge of breakout rallies.
Known as Bluntz, this pseudonymous analyst has shared with his 316,100 followers on X that memecoin Floki (FLOKI) is showing bullish signals on both the daily and four-hour charts.
Bluntz points out that FLOKI has recently shown a bullish divergence on the daily chart, indicating increasing buying momentum. Additionally, he mentions that FLOKI is trading within an ascending triangle pattern, which is typically seen as a bullish reversal formation.
“A very promising ascending triangle structure is forming on FLOKI following the bullish divergence at the lows.
It may take another day or two to develop further, but I anticipate a breakout in the near future.”
Based on Bluntz’s analysis, he predicts that FLOKI could rally to $0.000125. Currently, FLOKI is valued at $0.000097.
Turning to another memecoin, Dogecoin (DOGE), Bluntz suggests that it is forming a local bottom with an Adam and Eve structure, indicating a potential bullish reversal pattern.
“Several promising Adam and Eve structures are emerging, with DOGE showing a strong pattern. It has been nearly two weeks since the capitulation wick as well.”
As of now, DOGE is trading at $0.27.
Regarding Chainlink (LINK), a decentralized oracle, Bluntz notes that it is showing similarities to Dogecoin.
“LINK is also showing promising signs, much like many other altcoins in my opinion.”
At the moment, LINK is priced at $18.89.
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