An analyst known as a “Master Trader” on the crypto exchange Bybit thinks an altcoin running on the Ethereum (ETH) network is ready to take center stage.
Pseudonymous analyst Bluntz tells his 301,800 followers on the social media platform X that he thinks the Ethereum-based decentralized oracle Chainlink (LINK) is poised to spark a five-wave surge to a new all-time high.
Bluntz relies on the Elliott Wave theory, a technical analysis approach that states a bullish asset often witnesses a five-wave rally.
Says Bluntz,
“Major breakout on LINK today, all you have to do is take one look at LINK/BTC before you realize that you are probably not late and still early.
It underperformed pretty much everything for the entirety of the bull run and now seems to be playing turbo catch-up.
Probably one of the very few I would categorize as a dino coin that isn’t complete vaporware.”
Looking at the trader’s chart, he seems to predict that LINK will explode to a new record high of $70.
At time of writing, LINK is worth $24.44.
Turning to Near (NEAR), the analyst says he’s bullish on the Ethereum rival after it breached a diagonal resistance on its Bitcoin pair (NEAR/BTC).
“Revenge of the dinos.
NEAR/BTC pair finally broke out.”
At time of writing, NEAR is trading for $7.42.
Bluntz also thinks that the Solana (SOL)-based meme token dogwifhat (WIF) is primed to outperform the broader meme sector.
“Huge six-month+ basing/inverse head and shoulder structure on US dollar pair.
Double daily divergences against doge and double 12-hour bull divergences against PEPE.
If you are playing memes, you want to outperform DOGE, that should always be the goal.”
At time of writing, WIF is worth $3.31.
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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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