According to Gate News bot, as reported by Cryptodnes, crypto assets chart analyst “Bluntz” believes that the Solana memecoin SPX6900 (SPX) is poised for a significant breakthrough after completing what he calls a classic BCH pullback.
According to this analyst, the token’s pullback to its historical high is a bullish signal, indicating that it has laid a solid foundation for the next round of increases. Bluntz uses Elliott Wave Theory to interpret price movements and states that the structure of SPX points to an increase to $2.10, well above its current $1.47.
As of the time of writing, SPX has risen over 17% in the past 24 hours, reinforcing his view that the token is regaining momentum. Given that SPX’s market capitalization is still below $1 billion, Bluntz believes it has even greater upside potential, especially as Solana-based tokens continue to attract speculative interest.
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