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Home»ALTCOIN NEWS»Top Crypto Analyst Who Accurately Predicted Bitcoin Bottom in 2018 Says Ethereum Has Hit Bottom – Here’s His Outlook
ALTCOIN NEWS

Top Crypto Analyst Who Accurately Predicted Bitcoin Bottom in 2018 Says Ethereum Has Hit Bottom – Here’s His Outlook

By Crypto FlexsAugust 30, 20242 Mins Read
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Top Crypto Analyst Who Accurately Predicted Bitcoin Bottom in 2018 Says Ethereum Has Hit Bottom – Here’s His Outlook
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The cryptocurrency analyst who predicted Bitcoin’s 2018 bottom six months ago is now bullish on Ethereum (ETH).

The analyst, known by the pseudonym Blunts, told his 273,300 followers on social media platform X that ETH may be at its lowest price in six months now, after hitting a six-month low in August.

According to the trader, Ethereum is currently on the verge of reclaiming its range, with an upper limit of around $2,850.

Blunts also says that Ethereum shows a bullish divergence on a 3-day timeframe when paired with Bitcoin (BTC). A bullish divergence occurs when the price of an asset makes lower highs while a momentum oscillator, such as the Relative Strength Index (RSI), makes higher lows.

Using Elliott Wave Theory, Blunts seems to suggest that Ethereum is forming a five-wave pattern on a 4-hour time frame. Elliott Wave Theory states that the main trend of an asset moves in a five-wave pattern, while corrections occur in a three-wave pattern.

Looking at the chart, Blunts seems to be suggesting that Ethereum could rally to $3,400 in the coming days.

Source: Bluntz/X

At the time of writing, Ethereum is trading at $2,562 and ETH/BTC is trading at 0.04256 BTC.

According to the anonymous analyst, another reason for the bullish outlook for Ethereum is the fact that Solana (SOL) is declining compared to ETH.

“I think Solana/Ethereum will also crash soon.”

Source: Bluntz/X

At the time of writing, SOL/ETH is trading at 0.05727 ETH ($146).

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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