Will Chainlink and Pepe See Major Gains?
Release: 2024/12/12 19:54 Reading: 563
Potential Gains for Chainlink and Pepe
Prominent trader Bluntz has expressed optimism for Chainlink (LINK) and the memecoin Pepe (PEPE), suggesting they may experience significant value increases.
Chainlink's Future Outlook
Using Elliott Wave theory, Bluntz observed Chainlink's resilience in volatile market conditions. He believes it is nearing a notable recovery after completing an ABC correction on the 12-hour chart.
"LINK appears strong against both USD and BTC. It is attempting to recover from the December decline, and I anticipate a possible 50% or more surge in the upcoming weeks." - Bluntz
Pepe's Rally Expectations
Bluntz identified that Pepe may be preparing for a major rally, as it recently tested the lower limit of its trading range on the hourly chart. This position suggests potential upward momentum following the recent lows.
"PEPE has been sustaining its strength but has faked both ends of its range. This makes it challenging for bulls and bears, but I expect a substantial move once the lows are breached." - Bluntz
Market Rally Outlook
Bluntz also foresees a broader crypto market rally following a recent weekly correction. He believes this could trigger new bullish trends. However, he emphasizes the importance of heightened market participation and proper timing in trading, while advising traders to manage risks effectively.
Key Takeaways
- Chainlink may experience a 50%+ increase in the near future.
- Pepe is positioned for a potential explosive rally following its recent lows.
- A general market rally may follow the current correction.
- Traders should approach the market with caution and employ strategic risk management.
Traders are encouraged to carefully consider these insights and stay vigilant as market dynamics evolve, presenting both opportunities and challenges in the crypto landscape.
Continue Reading: Will Chainlink and Pepe See Major Gains?
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