A cryptocurrency analyst and trader who accurately predicted a Bitcoin (BTC) correction in January following a massive rally says one altcoin built in the Solana (SOL) ecosystem is set to skyrocket by over 2x.
The analyst pseudonymously known as Bluntz tells his 327,800 followers on X that the Fartcoin (FARTCOIN) memecoin has bottomed out after breaking above a downtrend on the three-day time frame.
Bluntz, who regularly applies the Elliott Wave theory in his technical analysis, says Fartcoin has completed a three-wave correction, a downward reversal that ended at the 61.8% Fibonacci retracement level. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.
On the price outlook for Fartcoin, Bluntz says,
“This is an easy play for 150% or so higher.”
Fartcoin is trading at $0.86 at time of writing.
Next up is the Useless Coin (USELESS) memecoin. According to Bluntz, USELESS has completed a correction and is on the cusp of a “full send” upward. Based on Bluntz’s chart of USELESS on the 12-hour time frame, it appears he is suggesting the memecoin could rally by around 140% from the current price to hit a new all-time high of about $0.60.
USELESS is trading at $0.25 at time of writing, down by about 40% from the all-time high of $0.42 reached in July.
Generated Image: Midjourney
