A widely followed cryptocurrency analyst believes that a competitor to Dogecoin (DOGE) and Shiba Inu (SHIB) is preparing for a huge burst of upside.
The pseudonymous analyst known as Bluntz tells his 307,800 followers on social media platform X that FLOKI (FLOKI) is poised to rise at least 114% from its current level.
Based on the widely followed analyst’s chart, it seems to suggest that FLOKI has almost achieved an inverse head-and-shoulders pattern on the weekly time frame. In technical analysis, inverted head and shoulders patterns suggest that an asset could be about to rally after printing a higher high and lower bullish pattern with a right shoulder.
“FLOKI has been accumulating here for almost a year and working to put a top-level right shoulder frame.
Its time will come and, in my opinion, it will undoubtedly reach new all-time highs in the coming months.
FLOKI is trading at $0.000161 at the time of writing, down 53% from its all-time high of $0.000345 reached in June 2024.
The pseudonymous analyst also gives his opinion on the top-tier altcoin Sui (SUI). Bluntz says Sui looks strong despite the current market correction.
“The SUI daily chart is a sight to behold, just consistent strength.
Always dips the least and hits new all-time highs at the slightest market strength.
In my opinion, new all-time highs are at stake.”
SUI is trading at $4.60 at the time of writing, down about 15% from the all-time high of around $5.35 hit earlier this month.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of 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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