NFT Chart: CryptoPunks Here’s the CryptoPunks chart over the past few years. What stands out to me is how price has continued to trade within these two diagonal bands. The upper line has acted as the ceiling. The lower line has acted as the floor. And those two bands keep getting tighter and tighter. At a certain point, something has to give. This type of prolonged consolidation is corrective in nature and can be consistent with a Wave 2 or Wave 4 structure. If that interpretation is correct, the eventual breakout could lead to a strong impulsive move. How long that takes will depend heavily on the broader NFT and crypto markets. But my long term view has not changed. If NFTs survive and mature into a legitimate long term asset class, CryptoPunks are the grail. Personally, I believe we see a $1 million floor sometime within the next 10 years. That may sound crazy today. But the most important artifacts from a new cultural movement usually look expensive before they eventually look historic. NFA 🐸