Popular analyst Bluntz expects a lot from Ethereum in the coming period. Not only against the US dollar, but also against Bitcoin. According to Bluntz, Ethereum is currently showing “serious strength” on the charts.
The serious power of ethereum
Ethereum and even ETH/BTC are showing serious strength today,” Bluntz said in comments on the chart below.
Bluntz is an analyst known for his use of Elliott Wave Theory, an approach to technical analysis based on the psychology of the crowd.
According to the theory, asset prices move in waves based on the feelings and emotions of the masses. Corrections during an uptrend happen in three parts, which they call “ABC” waves.
Based on the chart above, Bluntz seems to suggest that Ethereum will have completed its three-wave correction once it reaches $2,800.
That should be the time when Ethereum should begin the next part of its bull run, according to Bluntz.
Not just bullish on Ethereum
By the way, Bluntz is not only bullish on Ethereum, but he also sees a lot of potential in Helium (HNT), a Solana-based Internet of Things blockchain. According to the analyst, there is bottoming and he sees a bullish divergence for the asset’s Relative Strength Index (RSI).
“Very nice bullish divergence for HNT here, after hitting both the high of the range and the low of the range,” said an optimistic Bluntz.
At the time of writing, Helium is trading at $5.75 and is up 11.91 percent. Over the past week, this token has even shot up by 45.60 percent.
These are returns that the average investor dreams of. Although within crypto it remains unpredictable exactly which coins will show this kind of increase.
