An analyst known as the ‘master trader’ of cryptocurrency exchange Bybit believes that altcoins running on the Ethereum (ETH) network are ready to take center stage.
Pseudonymous analyst Bluntz told his 301,800 followers on social media platform
Bluntz uses Elliott Wave theory, a technical analysis approach that states that bullish assets often witness five-wave rallies.
Blunts says:
“There was a big breakout in LINK today. All you have to do is take a look at LINK/BTC before realizing that it’s probably not too late and it’s still too early.
It has underperformed pretty much everything throughout the bull market and now seems to be playing turbo catch-up.
“It is probably one of the few coins that can be classified as a dinosaur coin rather than a complete vapor coin.”
Looking at the trader’s chart, he seems to be predicting that LINK will explode to a new high of $70.
As of this writing, LINK is worth $24.44.
Turning to Near (NEAR), the analyst said he is bullish on the Ethereum rival after it broke the diagonal resistance of the Bitcoin pair (NEAR/BTC).
“Revenge of the Dinosaurs.
Finally the NEAR/BTC pair is here.”
As of this writing, NEAR is trading at $7.42.
Bluntz also believes Solana (SOL)-based meme token dogwifhat (WIF) is poised to outperform the broader meme sector.
“Huge 6+ month base/reverse head and shoulders structure for the US dollar pair.
There is twice the daily divergence versus DOG and twice the 12-hour bullish divergence versus PEPE.
If you play Meme, outperforming DOGE should always be your goal.”
As of this writing, WIF is worth $3.31.
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