A prominent cryptocurrency analyst, known under the pseudonym Bluntz, has made remarkable predictions in the market, including a recent forecast that a specific altcoin from the Solana ecosystem is poised for significant gains. With a substantial following of 327,800 on X, Bluntz expressed optimism about Fartcoin (FARTCOIN), a memecoin that has recently shown signs of recovery after breaking a downtrend on the three-day chart.
Utilizing the Elliott Wave theory—a popular technical analysis model—Bluntz observed that Fartcoin had completed a three-wave correction, a phase often characterized by a downward trend that, in this case, ended at the 61.8% Fibonacci retracement level. According to this theory, asset price movements occur in five-wave patterns during trends, followed by three-wave corrections.
Bluntz voiced his bullish outlook on Fartcoin, stating, “This is an easy play for 150% or so higher,” signaling confidence in the cryptocurrency’s potential to rise significantly. At the present moment, Fartcoin is valued at $0.86.
In addition to Fartcoin, Bluntz highlighted another memecoin, Useless Coin (USELESS), which he believes has also completed its correction and is on the cusp of a significant upward movement. Analyzing USELESS on a 12-hour chart, he suggested that the coin could see a rally of approximately 140%, potentially reaching a new all-time high of around $0.60. Currently, USELESS is trading at $0.25, marking a 40% decline from its previous peak of $0.42 recorded in July.
As the cryptocurrency market experiences its usual volatility, investors have been encouraged to conduct thorough research and exercise caution, particularly in high-risk ventures associated with digital currencies.
