A widely followed analyst and trader is providing his perception on two digital sources because the full crypto market cap edges upwards.
The crypto analyst pseudonymously is named Bluntz tells his 241,400 followers on the social media platform X that the memecoin dogwifhat (WIF) is exhibiting bullish divergence on the lengthy time frames.
A bullish divergence occurs when the associated payment of an asset retains forming lower lows while an oscillator, in this case the Relative Strength Index (RSI), is forming elevated lows.
WIF is trading at $0.952 at time of writing, up by round 229% from a low of $0.289 recorded on February twenty fourth.
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 physique.
On the three-day time physique, Bluntz says that the Solana/Bitcoin pair is forming a “hell of a bottom wick”. A bottom wick is a candle which indicates that tag has vastly pulled support from the low to discontinuance at a important elevated tag, thereby ensuing in a skinny line on the lower segment of the candle.
Solana is trading at 0.00216 BTC ($133.37) at time of writing.
Generated Image: Midjourney
