A prominent cryptocurrency analyst, known by the pseudonym Bluntz, has made bold predictions regarding the future performance of Cosmos (ATOM), the native token of a major smart contract blockchain. Bluntz took to Twitter to share his bullish sentiment, stating that despite ATOM currently trading close to its 2023 lows, it has the potential to double in value.
Bluntz highlighted that ATOM is currently trading within a bullish ascending channel and has recently completed a three-wave corrective pattern. These technical indicators suggest that a new uptrend is on the horizon for ATOM. The analyst expressed excitement about the token, stating, “I’ve been hunting some altcoins that look amazing that haven’t run as hard as some others and my homie pointed out ATOM. Beautiful weekly structure, nice clean three-wave move down, another potential 100% mover in my opinion.”
At the time of writing, ATOM is trading at $10.02, reflecting a decrease of over 3% in the past day. Despite this, Bluntz remains optimistic about its future potential.
Bluntz also commented on Solana (SOL), a major competitor of Ethereum, which has shown impressive performance compared to other cryptocurrencies. According to the analyst, SOL has been one of the best performers among all major cryptocurrencies this month. In a previous prediction, Bluntz anticipated that SOL had the potential to double in price after completing a three-wave corrective pattern. “One of the altcoins I’m liking here is SOL. Solid strong reaction from a major support level, clean three-wave move down on high timeframes. I think this has potential for 100% upside, and I rarely call sh*t like that.”
Currently, SOL is trading at $27.86, experiencing a decline of nearly 6% in the last 24 hours. However, considering its recent track record, investors may still find hope in Bluntz’s prediction.
As cryptocurrency markets remain highly volatile, it is crucial to conduct thorough research and make informed decisions while investing. Bluntz’s analysis serves as a reminder for investors to keep an eye on overlooked altcoins like ATOM and not solely focus on the high-performing assets. With potential percentage gains and a bullish market outlook, the future could hold significant opportunities for these altcoins in the crypto market.