A prominent crypto analyst is predicting bullish breakouts for memecoin PEPE and Solana rival SEI. Pseudonymous analyst Bluntz, with a following of 273,500 on X, believes these altcoins are among the market’s leaders after breaking out of bullish reversal patterns.
SEI’s Bullish Breakout
Bluntz suggests that SEI has broken out from a rounding bottom pattern, a technical formation often interpreted as a bullish reversal. This pattern indicates that investors have been accumulating the asset without allowing the price to decline significantly. At the time of writing, SEI is trading at $0.27, down 12.41% for the day.
PEPE’s Inverse Head-and-Shoulders Pattern
For PEPE, the analyst points to an inverse head-and-shoulders pattern, another bullish reversal formation. This pattern coincides with the conclusion of an ABC corrective wave, suggesting that the meme token is poised for a surge. Bluntz notes, “PEPE coming in hot with the accumulation break.” Currently, PEPE is trading at $0.000007194, down 5% in the past 24 hours.
Also Read: Pepe Coin Drops 6.5% Amid Ethereum’s 5.6% Slide – Will Whale Moves Impact Recovery?
Bitcoin’s Potential Rally
Turning to Bitcoin, Bluntz believes that the cryptocurrency is close to sparking rallies due to rising liquidity injections from the Federal Reserve. The analyst previously predicted that Bitcoin will reach a new all-time high around $100,000.
Bluntz’s analysis suggests that PEPE and SEI are well-positioned for bullish breakouts. The analyst’s bullish outlook on Bitcoin, combined with the rising liquidity injections, further strengthens the potential for a broader market rally. Investors should monitor these developments closely as they could significantly impact the cryptocurrency market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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