Memecoins
Lark Davis Predicts Bitcoin’s Path to $100,000, Identifies Strong Meme Coins With Double-Digit Gains
BitcoIn “The recent surge beyond the critical $60,000 mark has sparked widespread enthusiasm among altcoins, shifting sentiments from red to green. However, it remains uncertain whether this signals a confirmed bullish breakout.”
Bitcoin Breakout and Technical Analysis
Lark Analyst Davis He spoke about recent developments in Bitcoin price action and highlighted that Bitcoin managed to break out of a downtrend, breaking above the 200-day EMA and crossing the $60,000 and $62,000 levels, as well as the 50-day and 100-day exponential moving averages.
He supported the bullish outlook, noting the possibility of a technical retest around $63,000 to test the 50- and 100-day support, or even around $62,000. Despite the bullish sentiment, Davis reminded everyone that markets do not move in straight lines and corrections are natural.
Key levels and potential tests
The key level to watch is $72,000. Davis expressed excitement about the bullish momentum and positive market reaction, citing factors such as potential rate cuts, increasing global liquidity, increasing regulatory clarity, and the possibility of a pro-crypto U.S. presidency. He cautioned that despite the excitement, Bitcoin is still moving sideways until it breaks the $72,000 level.
The analyst then discussed the possibility that the recent price action could represent a spring in a Wyckoff reaccumulation pattern, potentially pushing Bitcoin toward a target range of $90,000 to $100,000 over the next market cycle. He once again explained the importance of breaking above the $72,000 level for a confirmed bullish breakout.
Davis also gave an update on some of the best performing altcoins recently. Meme coins stole the show with MCoin up 20%, Floki up 12%, Dogwifhat up 15%, and Pepe up 16% in just 24 hours.
Altcoins on the Rise: Meme Coins and Solana
He then turned to Solana, noting her dominance in decentralized exchanges (DEX), where it now accounts for 30% of total trading volume across all blockchains. Davis expressed his long-held belief that only a few blockchains will ultimately capture most user activity, questioning the proliferation of competing platforms that have limited adoption beyond the initial hype.
Read also: Bitcoin Reverses Bearish Trend Ahead of ETH ETF: $70K Target Activated, Here’s When It Could Hit!