According to a widely-followed crypto strategist, Ethereum (ETHAs shown by the top smart contract platform, it is possible that. will make an explosive move up as a result of its current position. “serious strength” Charts
Bluntz, a pseudonymous trader and analyst on social media platform X tells 257,000 of his followers that ETH looks strong in both its USD and Bitcoin.BTC) pairs.
“ETH and even ETH/BTC showing some serious strength today.”
Bluntz, a well-known practitioner of Elliot Wave Theory (an approach to technical assessment that asserts corrections usually occur in three phases or parts), is known for his use. “A-B-C” waves. Bluntz’s chart suggests that Ethereum has completed its three wave correction at $2,800, and it is now likely to begin a new leg in its bull run.
A bullish divergence is also evident on the trader chart between ETH/BTC price and relative strength index, a momentum indicator. Bullish divergence indicates the potential for a trend change as momentum of an asset is moving up, while the price moves down or in a sideways direction.
Ethereum’s price is $3,183 as of the writing. This represents a drop of over 3% from its previous 24 hour high.
Bluntz has also been keeping an eye out for a low-cap altcoin, which he claims just gave a rare signal of bullishness.
Helium is a commodity that the trader claims (HNT), a Solana-based Internet of things-focused blockchain project, has likely bottomed out while showing a bullish divergence with its RSI.
It’s a very bullish divergence here on HNT, after it recently swept through a range high as well as subsequently a range low. In fact, this is the first time since 2022 that HNT has experienced descending range.
Some charts look like they’ve bottomed out.”
HNT, at the time this article is written, has risen by over 13% since yesterday.
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