These Two Altcoins May be on the Verge of a Breakout, According to Analyst

Cryptocurrency analyst Bluntz has expressed optimism about a newly launched, cat-themed memecoin within the Binance Smart Chain.

Bluntz believes Simon’s Cat (CAT) memecoin is poised for a significant breakout. He noted that CAT has been steadily rising, experiencing consistent vertical moves since its launch, and he expects a major surge to occur soon.

cat szn alive and well, $CAT just keep vertically accumulating then breaking out, constant grind up from launch, i think a face ripping breakout is near. https://t.co/nmTnaJLIVn pic.twitter.com/OpahdF6b6G

— Bluntz (@Bluntz_Capital) September 20, 2024

Bluntz’s analysis shows that CAT is close to breaking out from an ascending channel on the four-hour chart. Currently trading at $0.00004263, the token has surged by 291% from its August 22nd low of $0.0000109.

The memecoin, inspired by the well-known Simon’s Cat series, has accumulated a market cap of over $292 million, despite being on the market for just a month.

Additionally, Bluntz offered his view on NEAR Protocol, a layer-1 blockchain. He observed that NEAR’s price is beginning to show signs of recovery and believes that growing interest in AI technology could drive future gains.

liking $near again here too, starting to poke its head out of 6 month downtrend.

im sure the ai narrative will rear its head again at some point pic.twitter.com/FDOVDMTEvE

— Bluntz (@Bluntz_Capital) September 19, 2024

Earlier this year, NEAR introduced tools allowing users to build AI applications on the protocol, further reinforcing this potential.

Bluntz’s analysis indicates that NEAR is nearing the end of a six-month downtrend and could soon break through its diagonal resistance, with AI-related developments possibly playing a key role in its ascent.