This Solana Memecoin Poised for Breakout, Says Analyst

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.

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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.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.