A widely followed cryptocurrency analyst and trader is leaning bullish on one memecoin while giving his forecast on two layer-1 altcoins.

The analyst pseudonymously known as Bluntz tells his 287,700 followers on the social media platform X that Dogecoin (DOGE) is “still turbo strong.”

Based on Bluntz’s chart on the four-hour time frame, it appears that the pseudonymous analyst is suggesting that Dogecoin could skyrocket by nearly 60% to reach a price of $0.22.

At time of writing Dogecoin is trading at $0.138, up by over 20% in the past two weeks.

The widely followed analyst further says,

“Dogecoin is the new mega large cap market leader.

You may not have realized it just yet but you will soon.”

Next up is Solana (SOL). Bluntz says that despite recent bearish sentiment in the crypto market, Solana only moved slightly downwards and did not fall below a major resistance level that it recently overcame on the daily time frame, an indication of its strength.

“Chance of fakeout diminishing by the day.”

Solana is trading at $166 at time of writing.

Next up is Sui (SUI). The pseudonymous analyst who regularly applies the Elliott Wave theory in his technical analysis says that Sui could be on the cusp of reaching a new all-time high in a five-wave pattern after a correction. According to the Elliott Wave theory, 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 Bluntz’s chart, it appears that the analyst is suggesting that Sui could hit a price of $2.80, about 48% above the current price.

Sui is trading at $1.89 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 closely followed crypto strategist and trader thinks Ethereum (ETH) is gearing up to ignite big breakout rallies.

Pseudonymous analyst Inmortal shares a chart with his 217,500 followers on the social media platform X suggesting that Ethereum will see one final dip before sparking a 75% surge to his target of $4,100.

“Call me crazy, but I think ETH is a good SPOT trade here.

Slower than SOL, but safer.” 

Zooming in on Ethereum, Inmortal notes that ETH has already broken out of its horizontal resistance on the low time frame.

“ETH showing the way.

Classic consolidation below resistance + higher lows.” 

At time of writing, Ethereum is trading for $2,668.

Turning to Ethereum challenger Solana, Inmortal shares a chart suggesting that SOL is mirroring its 2021 price action when it witnessed a lengthy consolidation period before a massive eruption.

“SOL.” 

In 2021, SOL consolidated for months below $60 before breaking out and rallying to its all-time high of $259. At time of writing, SOL is worth $166.

The analyst is also tracking the price action of the meme token Floki (FLOKI). According to Inmortal, FLOKI is flashing multiple bullish higher-low setups indicating that the memecoin is preparing for a breakout.

“It’s all right. We have the mountain now.

Consolidation below resistance + higher lows? This will end soon.

FLOKI go brrrr season.” 

Based on the trader’s chart, he seems to predict that FLOKI will jump to $0.00021. At time of writing, FLOKI is trading at $0.000151.

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The broader cryptocurrency market has displayed a strong show over the weekend with the Bitcoin (BTC) price rallying close to $70,000 and altcoins taking the charge in a fresh surge. With 3.72% gains in the last 24 hours, Ethereum (ETH) leads the alt space shooting all the way to $2,750 levels. The recent crypto market rally sees participation from other alts like SOL, ADA, SUI, LINK, and others.

Altcoins Take Charge of the Crypto Market Rally

After holding strongly to $2,600 levels during the past week, market analysts believe that the Ethereum price has largely bottomed with 11 weeks of accumulation and is heading for a rally to $3,000 and above. Also, with Donald Trump’s odds of winning the next US Presidential election on the rise, investors are cheering with a broader crypto market rally.

The technical chart by Crypto McKenna clearly shows that ETH is forming an inverse head and shoulders pattern. Thus, it could continue its rally further to $3,000, and a further breakout above this could trigger a rally to $4,000 levels.

On the other hand, Ethereum competitor Solana has extended its rally with an additional 6.39% gain and is moving all the way to $170. levels. For the past several months, the SOL price has remained range bound between $130-$210. Popular crypto analyst Peter Brandt stated that the SOL is forming a cup and handle pattern on a multi-year chart. Thus, a breakout above $210 would set the stage for the Solana price rally.

Another altcoin joining the crypto market rally, and everyone’s favorite recently, is SUI. While comfortably taking support at $2.0, the SUI price has reversed its trajectory and is currently trading 33.88% up at $2.15. The SUI price, which is already up by a staggering 460% over the past year, is set to continue to rally further to $2.60, noted crypto analyst Ali Martinez. He added that as long as SUI holds $2.0 and reverses its trajectory, it will continue to rally to $2.60.

$SUI remains within a rising parallel channel, signaling a possible bounce that could push it to $2.60! Keep an eye on the key $2 support level, though, for any potential trend shifts. pic.twitter.com/mM9iyFaYNW

— Ali (@ali_charts) October 20, 2024

Will Bitcoin (BTC) Follow With New All-Time High?

The world’s largest crypto Bitcoin (BTC) has staged a strong recovery with more than 7% gains over the past week being very much part of the crypto market rally. However, the BTC price still needs to clear past the $70,000 resistance to hit a new all-time high in October. On the other hand, the Bitcoin futures open interest is surging pretty fast showing that investors continue to remain bullish over the long term.

Last week, the US spot Bitcoin ETFs netted more than $2.4 billion in weekly inflows amid the growing optimism and outlook ahead of the US elections. Republican candidate Donald Trump is openly pro-crypto, with Bitcoin often being considered a “Trump trade”. David Lawant, head of research at crypto prime broker FalconX said:

The Bitcoin options market indicates that “forward implied volatility is heavily clustered around the election day and somewhat subdued leading to it and some time after it”.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.