A widely followed crypto analyst and trader has expressed bullish sentiment on the top 20 altcoins by market cap.
Analyst known by the pseudonym Brandts To tell His 257,300 followers on social media platform X show that Ethereum (ETH) competitor NEAR Protocol (NEAR) is currently outperforming other crypto assets.
“I love how NEAR keeps hitting new highs while everything else keeps stalling and piling up.
It is undoubtedly the current market leader and will definitely be one of the first to hit new highs. ”
Based on Brandts' 8-hour chart, the pseudonymous analyst's initial target is above $10, about 40% from current levels, after a potential spike in the five-wave pattern that began in mid-April. It seems so.
According to Elliott Wave Theory, a technical analysis tool regularly used by pseudonymous analysts, the main trend in asset prices follows a five-wave pattern, and corrections occur in a three-wave pattern.
At the time of writing, NEAR is trading at $7.15.
Pseudonymous Analyst Turns to Bitcoin (BTC) To tell The main crypto asset is emitting a reversal signal on the hourly chart.
Based on Bluntz’s chart, Bitcoin is forming a bullish divergence. While the Relative Strength Index (RSI) indicator is on an upward trajectory, prices are on a downward trend. RSI is a momentum oscillator used to determine overbought or oversold conditions.
“I'm still very much on the risk-on side, and I still think we're going to see new highs in the next week or two.”
At the time of writing, Bitcoin is trading at $63,000.
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