The cryptocurrency market has been showing strength lately, led by Bitcoin. While Bitcoin is dancing around $42,000, leading altcoin Ethereum is underperforming. However, an analyst who predicted the bottom of the Bitcoin bear market in 2018 says Ethereum is about to take center stage. The analyst predicts that ETH will outperform the recent booming altcoins LINK and SOL.
Bluntz: ETH is showing signs of strength against LINK and SOL!
The crypto market is in good spirits for now. Although the leading cryptocurrency fell below Bitcoin, it managed to rise above 42 thousand dollars. Altcoins also have a generally positive outlook. However, leading altcoin Ethereum is struggling to gain momentum. Despite this, the analyst pseudonymous Bluntz, who predicted a successful Bitcoin bottom in 2018, says Ethereum closed above its multi-month accumulation range for the first time last week. For the analyst’s accurate predictions, check out this article from Kriptokoin.com. According to the analyst, Ethereum’s strong weekly close is reminiscent of Chainlink’s (LINK) price action, which saw a massive rally after breaking out of its accumulation range in October. In this context, the analyst makes the following statement based on the relationship between ETH and LINK:
ETH finally made a strong weekly close above a 530+ day range. For perspective, I think there is a very strong chance that it will start to rise significantly like LINK and others with similar structures.
Source: BluntzThe crypto analyst also says that Ethereum is starting to show signs of strength against LINK and Solana (SOL). “Many pairs that have been in monster uptrends like LINK and SOL are finally starting to look bearish against ETH,” Bluntz said. “I think it’s ETH’s turn to finally be in the sun.” says.
Like Bluntz, Inmortal also expects a rise from ETH
Leaving LINK and SOL behind, Bluntz is not the only analyst bullish on Ethereum. The analyst with the pseudonym Inmortal also states that Ethereum recorded its highest weekly close in more than a year last week. “This is the highest weekly close on ETH since May 2022, 570 days ago,” the analyst said. Ah, that’s a new macro high and a new annual high. “It’s something you don’t see every day.” says.
Source: InmortalMeanwhile, Inmortal had previously predicted that the recent breakout in ETH would continue this time as well. At the time of writing, ETH was trading at $2,218, above Bluntz’s accumulation range. The leading altcoin is sitting on a gain of over 9% on its weekly chart. LINK has a better performance on the weekly chart compared to its price. However, LINK’s monthly performance is better at 30% compared to ETH’s 18%.
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