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Home»ALTCOIN NEWS»‘Take down the market leader now’: Trader says top Ethereum rival will be one of the first to hit new highs
ALTCOIN NEWS

‘Take down the market leader now’: Trader says top Ethereum rival will be one of the first to hit new highs

By Crypto FlexsApril 28, 20242 Mins Read
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‘Take down the market leader now’: Trader says top Ethereum rival will be one of the first to hit new highs
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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.”

Source: Bluntz/X

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.”

video
Source: Bluntz/X

At the time of this writing, Bitcoin is trading at $63,000.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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