Bluntz, a well-known cryptocurrency analyst and trader, is confident that a top-10 altcoin by market cap is on the verge of a significant rally, according to his latest analysis. With a following of 260,900 users on the social media platform X, Bluntz, as he is known online, predicts that BNB, the utility token for the BNB Chain ecosystem, will soon surpass $1,000.

In a bold statement, Bluntz expressed his belief that BNB is poised to hit a four-digit price point in the current cycle. His analysis, based on a chart of BNB on the weekly timeframe, suggests that the altcoin could reach around $1,200 in a five-wave pattern, indicating a potential increase of approximately 71% from its current value.

Utilizing the Elliott Wave theory in his technical analysis, Bluntz highlights the expected movement of the asset price in a five-wave pattern, with corrections occurring in a three-wave pattern. This theory forms the basis of his bullish outlook on BNB’s future performance.

At the time of writing, BNB is trading at $700, slightly below its all-time high of $710 recorded on June 5th. Moving on to the Ethereum/Bitcoin (ETH/BTC) pair, Bluntz suggests that the recent downward trend following a bearish divergence on the 12-hour chart may have come to an end.

A bearish divergence, characterized by the price of an asset rising while an indicator like the Relative Strength Index (RSI) trends downwards, preceded the recent movement in the ETH/BTC pair. Bluntz anticipates a significant price movement in the near future, leaning towards a bullish outcome.

As for Ethereum (ETH), it is currently trading at 0.05358 BTC ($3,802) at the time of writing. Investors are advised to stay informed and exercise caution when making high-risk investments in the volatile world of Bitcoin, cryptocurrency, and digital assets. The Daily Hodl does not provide investment advice, and all trading decisions are made at the individual’s own risk.