A crypto strategist known for making timely altcoin calls believes that the native asset of a layer-1 project is gearing to witness its first uptrend.
Top trader Bluntz tells his 275,200 followers on the social media platform X that Saga (SAGA) looks poised to spark big rallies after breaking out from an inverse head-and-shoulders pattern (IHS).
An IHS is typically viewed as a bullish reversal pattern as it indicates investors are no longer waiting for the price to revisit lows before accumulating the asset.
Says Bluntz,
“Still thinking SAGA has one of the best structures of the mid caps in the $200 million range and a fairly new coin without an initial run yet.
Huge IHS bottom breakout with volume.
Easy multiples, in my opinion.”
At time of writing, SAGA is worth $2.46 with a market cap of over $251 million.
Bluntz is also bullish on the Binance Smart Chain-based memecoin Simon’s Cat (CAT). According to the top trader, CAT will be the top feline-based memecoin this bull cycle as he thinks the coin will surge to a market cap of $1 billion.
“Everyone thinks POPCAT is gonna be this cycle’s winning cat coin but I disagree, I think CAT will.
Simon’s Cat [is] widely recognized with normies and the chart is gearing up for a major channel breakout, in my opinion.
CAT to a billy is coded.”
At time of writing, CAT is trading for $0.000042 with a market cap of $285 million.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post ‘Easy Multiples’ – Trader Predicts Rallies for Layer-1 Altcoin, Says One Memecoin Gearing Up for Big Breakout appeared first on The Daily Hodl.