Solana

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-predicts-dogwifhat-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Dogwifhat Decline</a><br></p>
<p style="text-align: justify">A renowned cryptocurrency analyst and trader, Bluntz, has issued a warning concerning a potential decline in the value of the Solana (SOL)-based <a href="https://en.bitcoinhaber.net/investors-eye-meme-coins-during-bitcoin-swings" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a>, Dogwifhat (WIF). According to Bluntz, WIF might drop by approximately 70%, reaching a value of $1 from its current levels.</p>
<h2 id="what-signals-a-major-drop-for-dogwifhat-s-wif">What Signals a Major Drop for Dogwifhat’s WIF?</h2>
<p style="text-align: justify">Bluntz’s prediction is anchored in the Elliott Wave theory, a <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">technical analysis</a> method that forecasts <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> price movements through crowd psychology reflected in wave patterns. This theory suggests that after a five-wave motion, an asset typically undergoes an ABC corrective phase.</p>
<p style="text-align: justify">The analysis indicates that WIF has concluded its five-wave rise and is currently amid a C wave correction, pointing to a potential significant decline. Despite a prolonged B wave, the overall correction plan remains intact according to Bluntz.</p>
<p style="text-align: justify">Presently, WIF is trading at $3.44, marking a 3,854% increase from its January low of $0.087. However, despite this rise, Bluntz remains pessimistic about WIF’s short-term outlook due to the continuing correction.</p>
<h2 id="what-bearish-signals-are-there-for-solana">What Bearish Signals Are There for Solana?</h2>
<p style="text-align: justify">Bluntz also addressed Solana (SOL), the fourth-largest cryptocurrency by market capitalization, warning of a potential bearish trend. He noted that Solana’s recent surge took a three-wave form rather than a robust five-wave movement, indicating SOL could already be in a downtrend.</p>
<p style="text-align: justify">According to Bluntz’s chart analysis, Solana could briefly rise to $180 before falling below $140. The bounce from $118 lows occurred in three waves, and the recent decline on the four-hour chart happened in five waves, supporting the bearish trend. He suggested that SOL might decline at current levels before a temporary boost to around $178-180, followed by another drop.</p>
<h2 id="investor-takeaways">Investor Takeaways</h2>
<p style="text-align: justify">Investors should consider the following:</p>
<ul>
 <li>WIF might experience a 70% decline based on Elliott Wave theory.</li>
 <li>The current rise to $3.44 for WIF might be temporary.</li>
 <li>Solana may see a short-term surge to $180 before a significant drop below $140.</li>
 <li>Solana’s recent three-wave rise may indicate an ongoing downtrend.</li>
</ul>
<p style="text-align: justify">Investors holding these altcoins should exercise caution and stay informed about potential risks and corrective phases.</p>
<p style="text-align: justify">In conclusion, Bluntz’s analysis highlights the need for vigilance among investors, emphasizing potential short-term declines in both WIF and SOL. Continuous monitoring of market trends and shifts is crucial in navigating the volatile cryptocurrency landscape.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-predicts-dogwifhat-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Dogwifhat Decline</a></h5>

Analyst Predicts Dogwifhat Decline

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