This Solana Memecoin Poised for Breakout, Says Analyst
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Crypto chartist “Bluntz” believes the Solana memecoin SPX6900 (SPX) is gearing up for a major breakout after completing what he calls a classic ABC correction.
According to the analyst, the token’s pullback to retest its former all-time high is a bullish signal, suggesting a strong foundation for the next leg up. Bluntz uses Elliott Wave theory to interpret price movements and says SPX’s structure points toward a rally to $2.10, well above its current price of $1.47.
SPX has already gained over 17% in the past 24 hours, reinforcing his view that the token is regaining momentum. With a market cap still under $1 billion, Bluntz sees more upside potential, especially as Solana-based tokens continue to attract speculative interest.
The analyst is also optimistic about ai16z (AI16Z), an emerging altcoin with a focus on artificial intelligence. After a pullback to the 0.78 Fibonacci level near $0.16, the token has shown a strong bounce.
Bluntz believes this move signals the end of its correction and forecasts a rally beyond $0.45. He described the chart as showing a clear five-wave impulse followed by a corrective pattern — a setup that often precedes a fresh uptrend.
Both tokens reflect a broader theme in the current crypto market: traders chasing momentum plays in sectors like AI and memecoins that offer high upside despite inherent volatility.
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