Analyst Updates Outlook on Altcoin That’s Exploded Over 220% in a Week, Maps Path Forward for Solana
A broadly adopted analyst and dealer is providing his perception on two digital property as the overall crypto market cap edges upwards.
The crypto analyst pseudonymously often known as Bluntz tells his 241,400 followers on the social media platform X that the memecoin dogwifhat (WIF) is displaying bullish divergence on the very long time frames.
A bullish divergence happens when the worth of an asset retains forming decrease lows whereas an oscillator, in this case the Relative Energy Index (RSI), is forming greater lows.
WIF is buying and selling at $0.952 at time of writing, up by round 229% from a low of $0.289 recorded on February twenty fourth.
Turning to Solana (SOL), the pseudonymous analyst says that the layer-1 altcoin has probably bottomed out towards Bitcoin (BTC) after forming a bullish divergence on the one-hour timeframe.
On the three-day timeframe, Bluntz says that the Solana/Bitcoin pair is forming a “hell of a bottom wick”. A backside wick is a candle which signifies that worth has considerably pulled again from the low to shut at a a lot greater worth, thereby ensuing in a skinny line on the decrease a part of the candle.
Solana is buying and selling at 0.00216 BTC ($133.37) at time of writing.
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