A widely respected cryptocurrency analyst and trader believes that Ethereum (ETH) scaling solutions are poised to surpass all-time highs.
Analyst and trader known by the pseudonym Bluntz says His 236,300 followers on the
According to Bluntz, Optimism is “going to hit an all-time high this weekend.” According to Bluntz’s chart, it appears that if operating income breaks out of its current range, operating income could surge more than 15% from current levels to above $4.5.
OP is trading at $3.89 at the time of this writing.
Next is the Ethereum/Bitcoin (ETH/BTC) pair. According to Bluntz, ETH is glare Pairing it with Bitcoin on the weekly charts presents a bullish signal, increasing the chances of the former outperforming the latter.
Bluntz said that while the price of ETH is trending lower compared to BTC on the weekly chart, the Relative Strength Index (RSI), a momentum indicator used to identify overbought or oversold market conditions, is trending upward.
“Some people are still putting maximum bids on BTC, using ETH/BTC weekly candles like this to fake major high hourly lows, the first weekly bullish divergence in oversold territory in six years.
I think altcoin season has truly arrived because it simply doesn’t seem like it will succeed. “I think it’s starting to get really stupid.”
The ETH/BTC pair is trading at 0.05991 BTC ($2,552) at the time of writing.
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