Analyst: Ethereum Demonstrates Significant Resilience, While First-Time Bullish Signal Emerges for Low-Cap Altcoin Since 2022
A crypto strategist with a large following predicts that Ethereum (ETH) is preparing for a significant upward movement, as the leading smart contract platform displays “remarkable strength” on the charts. Bluntz, an anonymous analyst and trader, shares his insights with 257,000 followers on the social media platform X, stating that ETH is performing well against both the USD and Bitcoin (ETH/BTC) pairs. Bluntz, known for his use of Elliot Wave Theory, believes that Ethereum has completed a three-wave correction at $2,800 and is now entering a new phase of its bullish trend. Additionally, Bluntz observes a bullish divergence between ETH/BTC’s price action and its relative strength index (RSI), indicating the potential for a trend reversal. As of now, Ethereum is trading at $3,183, experiencing a decline of over 3% in the last 24 hours. Bluntz also identifies an altcoin with a lower market cap, Helium (HNT), which he believes has reached its bottom and is showing a bullish divergence with its RSI. HNT, a Solana-based blockchain project focused on the Internet of Things, has seen a price increase of over 13% in the last 24 hours, trading at $5.14. Investors are advised to conduct their own research and exercise caution when engaging in high-risk investments in cryptocurrencies and digital assets.