The widely respected cryptocurrency analyst and trader is expressing bullish sentiments about the top 20 altcoins by market capitalization.
Analyst known by the pseudonym Bluntz says With 257,300 followers on social media platform
“I like how NEAR continues to trudge to new highs while everything else lags and continues to build.
This is the current market leader and will certainly be one of the first to reach new highs.”
According to Bluntz’s 8-hour chart, the unnamed analyst’s first target appears to be above $10, or about 40% from current levels, after a potential surge in a five-wave pattern that began in mid-April.
According to Elliott Wave Theory, a technical analysis tool regularly used by anonymous analysts, major trends in asset prices move in a five-wave pattern and corrections occur in a three-wave pattern.
NEAR is trading at $7.15 at the time of this writing.
Switch to Bitcoin (BTC), pseudonymous analyst Called The main cryptocurrency asset is sending a reversal signal on the 1-hour chart.
According to Bluntz’s chart, Bitcoin has formed a bullish divergence. In other words, while the price was trending downward, the Relative Strength Index (RSI) indicator was trending upward. RSI is a momentum oscillator used to determine overbought or oversold conditions.
“I still take a risk view and think we will hit an all-time high in the next week or two.”
At the time of this writing, Bitcoin is trading at $63,000.
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