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Analyst to Ethereum (ETH) Ambitious Goal: Fix Complete!
A cryptocurrency analyst who broke the bottom of Bitcoin's (BTC) bear market in 2018 believes that Ethereum (ETH), the leading smart contract platform, looks set for a massive rally in the coming months.
“Ethereum Fix Period Completed”
Senior analyst Bluntz suggested in his statements that Ethereum has probably completed the correction period in the high time frame and is preparing for a major breakout that could end the bear market.
According to the cryptocurrency strategist, the remainder of 2023 could set Ethereum for a parabolic advance that will allow the leading smart contract platform to significantly outperform the markets flagship BTC. The expert analyst made the following statements in his statements:
I think the rest of this year looks like it's gearing up for another bull run. ETH has a nice underlying structure on the USD pair and BTC is also having very nice early reversal signs on the higher timeframes. I expect ETH to outperform BTC.
Senior analyst Bluntz is a seasoned practitioner of Elliott Wave theory, an advanced approach to technical analysis that attempts to predict future price action by following crowd psychology, which tends to manifest in waves. According to the theory, a bullish asset will witness a five-wave rally, with the third wave marking the steepest rise.
Taken by Bluntz's charts, he suggests that Ethereum is in the early stages of a third wave that could bring ETH closer to $4,000 before the end of 2023. As for the Bitcoin (ETH/BTC) outlook against Ethereum, he seems to anticipate that the pair could rally as high as 0.09 BTC at $2,750.
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