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Home»Analysis»Top Crypto Analyst Says Ethereum Competitor That Exploded Over 370% in Three Months Signals More Upside Potential
Analysis

Top Crypto Analyst Says Ethereum Competitor That Exploded Over 370% in Three Months Signals More Upside Potential

2023-12-23No Comments2 Mins Read
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A widely followed crypto analyst expresses bullish sentiment toward a popular tier-1 altcoin.

The pseudonymous analyst known as Bluntz tells His 232,600 followers on the social media platform

The strategist says Avalanche is forming a pattern that could push the price to $50, about 17% above current levels.

According to the trader’s four-hour chart, which uses Elliott Wave Theory in its technical analysis, Bluntz appears to suggest that Avalanche has so far completed two waves of a bullish five-wave pattern that is potentially on track to become the 10th largest crypto asset to push. to above $50.

GBxDKwRa8AAbVAq
Source: Bluntz/X

The Elliott Wave Theory is a tool used to predict future price movements, based on the premise that prices move in repeatable and predictable five-wave patterns.

Avalanche is trading at $42.77 at the time of writing, up from the price of $9.06 reached on October 20 – an increase of 372%.

The analyst too offers his insights on the smart contract platform Solana (SOL) combined with Bitcoin (SOL/BTC). According to Bluntz, SOL/BTC has traded within a range close to a breakout for 37 days. Bluntz says the SOL/BTC pair could see its “steepest” rise yet after the breakout.

GBqPAgzaYAAjHc7
Source: Bluntz/X

Solana is trade for 0.00181019 BTC at the time of writing.

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Analyst Competitor Crypto Ethereum Exploded months potential Signals Top Upside
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