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A top trader who accurately estimated the price floor for Bitcoin (BTC) during the 2018 bear market says one Ethereum (ETH) challenger looks very bullish.
Anonymous analyst Brantz told his 251,100 followers on social media platform he said.
According to the analyst, NEAR appears to be in the middle of a five-wave rally, which could see the altcoin soar to near $10 within the next few days.
“IMO, NEAR looks very bullish here, ABC has fallen from its highs, accumulated throughout the weekend and is now breaking out.
Should be one of the first to hit new highs IMO. ”
Blunts uses Elliott Wave Theory to predict future price movements of crypto assets. According to this theory, bullish assets tend to witness a 5-wave rally after completing a corrective move in ABC.
At the time of writing, NEAR was valued at $7.60, up more than 3% in the past day.
The trader is also eyeing Arbitrum (ARB), an Ethereum scaling solution. Brandts said ARB is flashing multiple bullish reversal signals on the daily chart.
“ARB is not only looking as clean as it was on the day ABC fell, but we are also now seeing daily bullish divergences in the daily closing prices.
ETH beta is about to get some love again IMO. ”
Traders often pay attention to assets that exhibit bullish divergence. This suggests that a bullish reversal is on the horizon as the asset gains momentum despite prices trending downward or sideways.
At the time of writing, ARB is worth $1.70.
Brandts also said he expects the Solana (SOL)-based meme token SLERF to rise.
“Initial hype and initial withdrawal for SLEF Look around. It was getting cooler so I took a punt. ”
At the time of writing, SLERF is valued at $0.767, up over 17% in the past 24 hours.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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