An analyst and trader who is widely respected makes a prediction about three cryptocurrencies amid a small bump on the market.
The Near Protocol is a layer one blockchain.NEARBluntz is a pseudonym for the analyst who has been referred to as Bluntz tells His 251,200 followers on the social media platforms X, the Ethereum (ETH() could surpass $9.01, which was the highest price in 22 months. It last occurred a few days ago.
“Will NEAR be the first Layer-1 in the top-50 (by market cap) back to fresh 2024 highs? I think the answer to that will be a resounding yes.”
Analysts who use the Elliott Wave Theory in their technical analyses have noted that NEAR’s four-hour chart is showing two distinct five-wave patterns. According to Elliott Wave theory, an asset’s price moves up in five waves while corrections occur in three.
Bluntz’s chart shows that one five-wave pattern could end above the price of $8.80, while the second could be around the $9.53 mark.
NEAR has traded at $7.84 since the date of this writing.
Bitcoin is the next big thing (BTCBluntz Bluntz says This is what it’s about “looking” The two biggest cryptocurrency assets by marketcap have created price floors, and now are destined for “start pushing higher again from here.”
According to Bluntz’s charts, both Bitcoin and Ethereum appear to have finished a three wave corrective pattern on the one-hour and 15-minute timeframes.
Bitcoin currently trades at $71,163 while Ethereum changes hands for $3,645.
Dogecoin:DOGE), Bluntz says The 30-minute chart of the biggest memecoin, measured by its market capital, shows a corrective three-wave pattern. This could indicate the end of the downtrend.
“Starting to think it might not give deeper pullback, definitely strong, no doubt about that.”
DOGE currently trades at $0.189.
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