A widely followed analyst and trader is offering his insight on two digital assets as the total crypto market cap edges upwards.
The crypto analyst pseudonymously known as Bluntz tells his 241,400 followers on the social media platform X that the memecoin dogwifhat (WIF) is displaying bullish divergence on the long time frames.
A bullish divergence occurs when the price of an asset keeps forming lower lows while an oscillator, in this case the Relative Strength Index (RSI), is forming higher lows.
WIF is trading at $0.952 at time of writing, up by around 229% from a low of $0.289 recorded on February 24th.
Turning to Solana (SOL), the pseudonymous analyst says that the layer-1 altcoin has potentially bottomed out against Bitcoin (BTC) after forming a bullish divergence on the one-hour time frame.
On the three-day time frame, Bluntz says that the Solana/Bitcoin pair is forming a “hell of a bottom wick”. A bottom wick is a candle which indicates that price has significantly pulled back from the low to close at a much higher price, thereby resulting in a thin line at the lower part of the candle.
Solana is trading at 0.00216 BTC ($133.37) at time of writing.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
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 loses 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.
Generated Image: Midjourney
