A popular cryptocurrency analyst and trader, who goes by the name Bluntz, is sharing positive sentiment about NEAR Protocol, an altcoin ranked in the top 20 by market capitalization. With over 257,300 followers on X, Bluntz highlights NEAR’s strong performance compared to other cryptocurrencies. While other assets have stalled, NEAR continues to make fresh highs and gain momentum. Bluntz believes that NEAR is currently a market leader and will likely be one of the first altcoins to reach new highs.

Bluntz’s analysis is supported by an eight-hour chart, which suggests that NEAR could surpass $10 in the near future. This represents a potential increase of around 40% from its current price. According to the Elliott Wave theory, a technical analysis tool frequently used by Bluntz, assets generally move in a five-wave pattern during an uptrend and in a three-wave pattern during a correction.

At the time of writing, NEAR is trading at $7.15.

Bluntz also provides insights on Bitcoin, stating that the flagship cryptocurrency is displaying a reversal signal on the one-hour chart. Based on Bluntz’s analysis, Bitcoin has formed a bullish divergence, indicating that the price has been trending downwards while the Relative Strength Index (RSI) indicator has been moving upwards. The RSI is a popular momentum oscillator used to identify overbought or oversold conditions.

Despite recent market fluctuations, Bluntz maintains a positive outlook on Bitcoin, believing that new all-time highs could be reached within the next one to two weeks.

The current price of Bitcoin is $63,000.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. The Daily Hodl, where this article was sourced from, does not endorse or recommend the buying or selling of any cryptocurrencies or digital assets.