A widely followed analyst and trader is leaning bullish on a blockchain oracle built in the Solana (SOL) ecosystem while offering his outlook on Bitcoin (BTC) and Dogecoin (DOGE).

Pseudonymous crypto trader Bluntz tells his 290,400 followers on the social media platform X that the native token of Solana-based blockchain oracle Pyth Network (PYTH) is primed for a strong bullish movement.

“God candle loading on PYTH.

Perfectly rounded bottom with three months of accumulation.

Currently flirting with the final boss as far as accumulation resistance goes [just below the $0.50 price] and once cleared, clear skies ahead.

Solana beta is about to start getting some love again in my opinion.”

PYTH is trading at $0.399 at time of writing.

Moving on to the flagship digital asset, Bluntz – who regularly utilizes Elliott Wave theory in his technical analysis – says that Bitcoin “should pop higher” after undergoing a brief correction in a three-wave pattern.

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.

Based on the analyst’s chart, it appears Bluntz is suggesting that Bitcoin could hit a new all-time high price of just under $80,000 in the first few days of November.

“I see lots of election volatility fear posts popping up and I don’t think the fear is unfounded, but I do think that election volatility will rear its head from higher up.”

Bitcoin is trading at $72,054 at time of writing.

Concluding with popular meme asset DOGE, the trader says its primed to go higher after enjoying an accumulation period of over two years.

“Many will succumb to selling DOGE too early, despite getting in at these low levels.

This is a consequence of 874 days of accumulation, recondition your brain, bullieve in something.”

Dogecoin is trading at $0.171 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A crypto strategist who accurately called the Bitcoin (BTC) correction earlier this year thinks a decentralized finance (DeFi) altcoin is getting ready to erupt.

Pseudonymous analyst Rekt Capital tells his 508,200 followers on the social media platform X that the native asset of the yield tokenization protocol Pendle (PENDLE) looks poised to start a new uptrend.

The analyst shares a chart suggesting that PENDLE has successfully retested the neckline of an inverse head and shoulders pattern on the weekly chart, indicating that the altcoin is in a position to move higher.

“Technically, PENDLE has performed a good weekly close above the $4.48 (blue) level

Two weeks ago, PENDLE broke blue as resistance.

Last week, PENDLE successfully retested it as support.

This week, PENDLE needs to continue holding here to lift-off.”

An inverse head and shoulders pattern is a bullish reversal structure suggesting that demand for an asset is on the rise as investors pile in without waiting for price to revisit recent lows.

At time of writing, PENDLE is trading for $5.04, up over 9% in the past day.

Looking at the layer-1 protocol Solana, Rekt thinks SOL is on track to move higher after flipping two resistance levels as support.

“SOL has actually performed a bullish weekly close.

Why? Because SOL weekly closed above the confluent resistance area that is the blue diagonal trendline and red box…

Looks like the post-breakout retest has been successful.”

At time of writing, SOL is worth $179.77.

As for Dogecoin (DOGE), the analyst thinks the altcoin is flashing constructive price action that would send the top memecoin to his target at $0.20.

“Dogecoin has successfully retested the red level ($0.14) as support.

DOGE has since rallied +26% to the upside.

Following the orange pathway perfectly thus far.”

At time of writing, DOGE is trading for $0.175.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Veteran on-chain analyst Willy Woo says that altcoins will get continuously less explosive over time as the crypto market matures.

Woo tells his 1.1 million followers on the social media platform X that the current market cycle has been “markedly different” from the others given that it is the third time that altcoins are reaching for mindshare since 2017.

Rather than being focused on decentralized finance (DeFi) or some kind of technological innovation, Woo says that the current altcoin hype is mostly focused on memes, which he believes is a poor take on the crypto space.

Says the analyst,

“I’m not saying there won’t be alt seasons. Certainly there will be echo fractals of mid-caps and low-caps pumping after BTC pumps as investors chase returns higher up on the risk curve. This is a normal part of markets and we see this in equities. Just alt seasons will be weaker each cycle on from the great 2017 alt bubble.

Also, remember alt market cap is like the cricket bat that has had 10 new handles and 10 new blades, it’s the sum of all the new winners… losers don’t count to the market cap.

Trade it sure, if you want to play… don’t ever HODL (hold on for dear life) them unless you’re so knowledgeable that you’re an effective insider because alts are an insider’s game just like the casino where the house will eventually win. But you already know that.”

At time of writing, Bitcoin (BTC) dominance (BTC.D), which compares the market cap of Bitcoin to all other crypto assets, is valued at 59.38%, a three-and-a-half-year high.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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