Prominent trader Bluntz took to social media platform X to share optimistic forecasts for Chainlink (LINK) and the memecoin Pepe (PEPE), suggesting potential surges in their values.
What Signals a Bright Future for Chainlink?
Utilizing Elliott Wave theory, Bluntz highlighted Chainlink’s resilience in fluctuating market conditions. He believes the cryptocurrency is on the verge of a significant bounce-back after finishing an ABC correction on the 12-hour chart.
“LINK appears robust against both USD and BTC. It is striving to recover from the downturn in December, and I predict a rise of at least 50% in the coming weeks.” – Bluntz
What Triggers the Anticipated Rally for Pepe?
Bluntz pointed out that Pepe could be gearing up for a major rally, having recently tested the lower boundary of its trading range on the hourly chart. This position indicates potential upward movement following the recent lows.
“PEPE is maintaining strength but has faked both sides of the range. This puts bulls and bears in a difficult spot, but I foresee a significant move once the lows are breached.” – Bluntz
Bluntz also anticipates a broader crypto market rally after a recent weekly correction, which he believes may catalyze new upward trends. He stresses the necessity of heightened participation and correct timing in trading while advising traders to manage their risks effectively.
- Chainlink may rise by at least 50% soon.
- Pepe is poised for an explosive rally after recent lows.
- A general market rally could follow the current correction.
- Traders must approach the market with caution and strategic risk management.
Traders should consider these insights carefully and remain vigilant, as market dynamics continue to shift, creating both opportunities and challenges in the crypto landscape.