Crypto Analyst Bluntz Predicts 6% Gain for Pudgy Penguins NFT

An analyst, recognized for achieving the “Master Trader” rank on a prominent crypto exchange, has turned bullish on Solana (SOL). The pseudonymous trader, Bluntz, who has a substantial following of 321,400 on the social media platform X, has indicated that SOL is poised for a rally after breaking through a diagonal resistance that had kept the cryptocurrency bearish since late May. Bluntz believes that not only will SOL see gains, but other coins within the Solana ecosystem will also experience a surge this week.

Bluntz's optimism is based on the recent breakout of SOL from a downtrend, which he believes signals a positive week ahead. He expressed his enthusiasm by stating, “Nice downtrend break on SOL overnight, I think we’re in for a good week [this] week. SOL ecosystem [coins] also starting to perk up and look real good again. I think we’re back, baby.” At the time of writing, SOL was valued at $152.

One of the Solana-based projects that Bluntz is particularly bullish on is the non-fungible token (NFT) project Pudgy Penguins (PENGU). According to the analyst, PENGU has broken out from a falling wedge structure, a bullish reversal pattern, and is poised for significant gains. Bluntz's chart analysis suggests that PENGU could reach $0.025, a substantial increase from its current value of $0.014, which has already seen a 6% rise in the past day.

In addition to his bullish outlook on SOL and PENGU, Bluntz has hinted that altcoins are on the verge of outperforming Bitcoin (BTC). He shared a chart of the Bitcoin Dominance (BTC.D) index, which tracks the proportion of the total crypto market cap that belongs to BTC. Bluntz's chart indicates a bearish divergence on the three-day chart, suggesting that altcoins are gaining value faster than Bitcoin. A bearish BTC.D chart typically signals that altcoins are outperforming BTC, which could be a positive sign for the broader altcoin market.

Bluntz's analysis and predictions are based on his technical expertise and chart patterns, which he shares with his followers. His bullish stance on SOL and PENGU, along with his hints about altcoins outperforming BTC, have garnered significant attention in the crypto community. As always, investors are advised to conduct their own research and due diligence before making any investment decisions.