Analyst Bluntz noted a potential surge in PEPE memecoin and SEI token, which are showing positive reversal patterns in the market.
Technical Formation in SEI Token
Bluntz posits that the SEI token has transitioned from a bottom formation into an upward trend. This technical formation suggests that investors are accumulating assets without a drop in prices, signaling a positive reversal. As of this writing, SEI is trading at $0.30, experiencing a daily decline of 1.44%.
Expectations for PEPE
It was noted that the PEPE memecoin has also transitioned into an upward movement by breaking the inverse head and shoulders pattern. This indicates that the asset is at the end of an ABC corrective wave and is gearing up for a rise. Currently, PEPE is valued at $0.0000078, and it has seen a decrease of 1.2% in the last 24 hours.
Bitcoin and Market Expectations
Bluntz believes that Bitcoin may soon initiate a rally. The increase in the Federal Reserve’s liquidity injections is seen as a positive signal for Bitcoin and other cryptocurrencies. The analyst previously predicted that Bitcoin could reach $100,000, marking a new peak. As of this writing, Bitcoin is trading at $60,200.
Bluntz’s analyses indicate that SEI and PEPE tokens may exhibit positive market movements. Increases in liquidity within the cryptocurrency market can create a favorable environment, especially for significant assets like Bitcoin. For investors, this situation could present potential profit opportunities in high-risk assets. However, it is crucial to remember that such investments are always risky, necessitating a cautious and informed approach.
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