Crypto analyst Bluntz recently indicated via social media that Dogecoin 
$0.227322 may be forming a local bottom and could soon enter a bullish phase. Recognized as a prominent figure advocating for altcoin rallies, Bluntz evaluated Dogecoin’s recovery potential following its current consolidation period.
Crypto Price Predictions
In his graphical analysis, Bluntz pointed out the Adam and Eve pattern and a completed ABC corrective move. He suggested that, according to Elliott Wave theory, the market could initiate a five-wave upward movement following this correction, potentially laying the groundwork for a short-term price increase.
Based on chart data, the target price for Dogecoin is projected to be around $0.34, while its current trading price is approximately $0.251. Bluntz also provided insights on the layer-1 protocol Hyperliquid (HYPE), predicting it could drop below $20 after breaking its vertical support line, as it is currently valued at about $24.14.
Analyst Opinions
Bluntz emphasized the importance of considering market fluctuations in his assessments. He noted that markets do not appear stagnant, which could present trading opportunities.
His analysis suggests that Dogecoin and Hyperliquid should be evaluated at different levels. While Bluntz’s comments are largely based on technical chart formations and past market behavior, he urges investors to conduct their research. Market players can leverage the provided technical data to capitalize on short-term movements.
According to the analyses, Dogecoin’s potential recovery and Hyperliquid’s anticipated correction can be evaluated under various investment strategies. Traders can utilize technical indicators to inform their decision-making processes. The market’s volatility may present opportunities for those who believe in technical analysis methods.
