A top trader who accurately called Bitcoin’s (BTC) floor price during the 2018 bear market says one Ethereum (ETH) challenger looks extremely bullish.
Pseudonymous analyst Bluntz tells his 251,100 followers on the social media platform X that he expects the native asset of the layer-1 protocol Near (NEAR) to rally to a level last seen in May 2022.
According to the analyst, NEAR appears to be in the midst of a five-wave surge that could see the altcoin soaring close to $10 in a matter of days.
“NEAR looks turbo bullish here IMO (in my opinion), clear ABC down from the highs, spent all weekend accumulating and now breaking out.
Should be one of the first to make new highs IMO.”
Source: Bluntz/X
Bluntz uses the Elliott Wave theory to predict the future price action of crypto assets. According to the theory, a bullish asset tends to witness a five-wave rally after completing an ABC corrective move.
At time of writing, NEAR is worth $7.60, an increase of over 3% in the
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