Analyst Predicts 50% Rally for Dogwifhat (WIF) Amid Market Downturn

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A seasoned crypto analyst known for successful altcoin forecasts predicts a major surge for a meme coin.
Another popular analyst foresees significant rallies for two DeFi altcoins.
A notable detail: the meme coin could see a 50% jump before continuing its downward trend, according to the analyst.

Discover the latest insights from top crypto analysts predicting substantial movements in meme and DeFi altcoins, offering potential investment opportunities.

Significant Surge Expected for Meme Coin WIF

Renowned crypto analyst Bluntz suggests that despite a medium-term bearish trend, meme token Dogwifhat (WIF) might be primed for a notable bounce. He identifies multiple bullish signals indicating a possible relief rally before resuming its decline. Bluntz forecasts a 50% upward move, driven by patterns observed in higher time frame charts indicating potential price movements to $3-$3.4 before short positions become viable again.

Elliott Wave Theory and WIF

Bluntz applies the Elliott Wave Theory, which tracks crowd psychology through predictable wave patterns to estimate future price actions. According to this theory, after a five-wave downward trend, an asset typically experiences a three-wave ABC correction. Bluntz’s analysis reveals WIF has concluded its five-wave drop and is poised for an ABC upward correction. However, he predicts a subsequent decline to around $1 post-rally.

DeFi Altcoins CRV and CVX Poised for Rallies

Credible Crypto, a well-known contrarian analyst, is bullish on Curve (CRV) and Convex Finance (CVX). Curve Finance is a decentralized exchange focused on stablecoins, while Convex Finance optimizes yields for locked tokens on Curve. Following the liquidation of Curve’s founder Michael Egorov on June 13, the analyst notes that both altcoins are positioned for upward movement, supported by recent low-time frame impulses.

CRV and CVX Price Targets

Since Egorov’s liquidation, both CRV and CVX have seen upward trends. On June 17, CVX surged over 157%, hitting $4.77 from its low of $1.85. Credible Crypto believes CRV will follow CVX’s trajectory. According to his analysis, primary resistance areas are $2 for CRV and $15 for CVX. These levels are anticipated to see profit-taking from leveraged long positions, while long-term spot holdings are expected to aim for new all-time highs.

Conclusion

In summary, top analysts see potential in specific altcoins amid the fluctuating crypto market. WIF may experience a short-term rally before further decline, while CRV and CVX show significant upward potential following key events. Investors should monitor these movements closely for strategic opportunities.