Ethereum
“Hands down a market leader right now”: Trader says Ethereum’s main rival will be one of the first to reach new highs
A widely followed cryptocurrency analyst and trader expresses bullish sentiment on a top 20 altcoin by market cap.
The pseudonymous analyst known as Bluntz tell his 257,300 followers on social media platformETH) concurrent NEAR Protocol (CLOSE) is currently outperforming other crypto assets.
“I love how NEAR continues to reach new heights while everything else is stalled and continues to pile up.
It is undoubtedly a market leader at present, and will certainly be one of the first to reach new heights.
Source: Bluntz/X
Based on Bluntz’s eight-hour chart, it appears the pseudonymous analyst’s first target is above $10, about 40% from the current level, after potentially rising in a five-year trend waves that started in mid-April.
According to the Elliott Wave theory, a technical analysis tool that the pseudonymous analyst uses regularly, the main price trend of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern. waves.
NEAR is trading at $7.15 at the time of writing.
Turn to Bitcoin (BTC), the pseudonymous analyst said as the flagship crypto asset sends a reversal signal on the 1-hour chart.
Based on the Bluntz chart, Bitcoin formed a bullish divergence – where the price was in a downward trend while the Relative Strength Index (RSI) indicator was on an upward trajectory. The RSI is a momentum oscillator used to determine overbought or oversold conditions.
“I’m still very risk-oriented and still thinking about new all-time highs in the next couple of weeks.”
Source: Bluntz/X
Bitcoin is trading at $63,000 at the time of writing.
Don’t miss anything – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Hodl Daily Blend
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: DALLE3