Crypto analyst Captain Faibik shared updates on BLUR and ONDO tokens, highlighting notable chart patterns and potential further bullish trends. As reported previously by CryptoTale, Captain Faibik’s analysis showed BLUR’s breakout from a falling wedge pattern, suggesting a possible bullish rally. Additionally, an analysis of ONDO’s chart showed a bullish pennant breakout, indicating a strong uptrend continuation.
The analysis of Faibik’s BLUR token revealed a descending wedge pattern on the daily price chart. This pattern is characterized by converging downward trendlines and signals a bullish reversal. The price broke out of this pattern, suggesting a shift from a downtrend. Faibik shared on X, explaining that he had been profiting by 15% since the token broke out of the pattern.
The breakout occurred when a candlestick closed above the resistance level, confirming the pattern’s reversal signal. Following the breakout, the price retested the breakout level, holding above it, which reinforced the bullish perception.
The projected target for BLUR is around $0.6400, representing a potential 56.47% rise from the point it broke out. This target is derived from the wedge’s height added to the breakout level. The pattern and breakout are the primary indicators supporting this analysis.
Moreover, the breakout from the pattern marks a bullish reversal, suggesting the downtrend has likely ended. If the price continues upwards, the next resistance level will be around the projected target of $0.6400.
Analyzing Faibik’s ONDO token chart shows a bullish pennant breakout on the daily timeframe. The pennant pattern, formed after an upward move, indicates consolidation within converging trendlines. Additionally, the breakout occurred at around $1.05, signaling a continuation of the bullish trend. The lower trendline slopes up, acting as support, while the upper line acting as resistance, trends down.
The height of the flagpole, projected from the breakout point, suggests a potential move to around $1.85. This indicates a possible 97.64% increase from the current price level. Captain Faibik took to X to celebrate his gains from the token. He stated that the token was up 40% since the breakout.
The confirmation of the bullish pennant breakout for ONDO suggests a continuation of the uptrend. This pattern often precedes significant price increases, with a target level of around $1.85.
