Ethereum

Solana

Bitcoin

Time

<div class="dailyhodl">
 An analyst who accurately called the 2018 floor price for Bitcoin (BTC) thinks rallies are in sight for Ethereum (ETH) and its rival Solana (SOL).
 Looking at Ethereum first, pseudonymous trader Bluntz tells his 226,200 followers on the social media platform X that ETH appears to have completed a corrective move on the lower time frame chart.
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 According to the analyst, ETH also flashed a bullish divergence on the 30-minute chart, indicating that momentum is building up for the leading smart contract platform.
 “Even though ETH has been the bane of my existence because ETH/BTC has been a perpetual bag of sh*t, I still think there’s a nice flat setup here on the USD pair with five-wave down now done and a nice low time frame divergence to confirm it.
 I think ‘the dip’ is done and we at least go for one more high above $1,880 from here.”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9-Y4q5bwAA4qcn?format=jpg&amp;name=4096x4096" alt="Image" width="3685" height="1788">
 <figcaption class="wp-caption-text">
 Source: Bluntz/X
 </figcaption>
 </figure>
 Bluntz practices the Elliott Wave theory, a method of technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> that attempts to predict future price action by identifying crowd psychology which tends to manifest in waves. Looking at the trader’s chart, he appears to predict that ETH will rally above $1,900 in the short term.
 At time of writing, Ethereum is worth $1,850.
 Next up is Solana, which the trader thinks has more gas left in the tank even though it’s already up about 338% this year.
 “18% three-wave pullback in a monster uptrend, yes, please. This is going straight to $50+.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F99D_E_bAAA6kWQ?format=jpg&amp;name=large" alt="Image" width="1971" height="954">
 <figcaption class="wp-caption-text">
 Source: Bluntz/X
 </figcaption>
 </figure>
 At time of writing, SOL is worth $42.
 Bluntz is also watching the performance of the US dollar index (DXY), which keeps track of the USD’s value compared to a basket of foreign currencies. According to the analyst, risk-on assets like crypto may see upside moves as he believes the DXY is set for a significant correction.
 “DXY now well and truly back in the high time frame range.
 Risk on b***hes, lets go!”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F-CPelSboAA4QYJ?format=jpg&amp;name=large" alt="Image" width="1558" height="879">
 <figcaption class="wp-caption-text">
 Source: Bluntz/X
 </figcaption>
 </figure>
 Based on the trader’s chart, he seems to predict that the DXY could fall below the key support level of 100 points.
 At time of writing, the DXY is trading at 105.069 points.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-who-nailed-2018-bitcoin-bottom-predicts-ethereum-and-solana-rallies-says-it-s-time-for-risk-on-assets-tbt69111.html">https://thebittimes.com/trader-who-nailed-2018-bitcoin-bottom-predicts-ethereum-and-solana-rallies-says-it-s-time-for-risk-on-assets-tbt69111.html</a>

Trader Who Nailed 2018 Bitcoin Bottom Predicts Ethereum and Solana Rallies, Says It’s Time for Risk-On Assets

TheBitTimes

Other articles published on Nov 5, 2023

Shiba Inu Burn Rate Soars 535%: Quarter Billion SHIB Burned

Ripple’s Near Victory: Crypto Lawyer Predicts %90 Win in SEC Settlement

Why Aptos’ (APT) Uptrend Depends on the $7.85 Support

LINK Price Prediction 2023-2025: Can It Achieve $25 Next?

VanEck Foresees Solana Surging 10,600% in Price Growth by 2030

Elon Musk’s Focus Shifts from Crypto to Artificial Intelligence: What Does it Mean for the Market?

Join our free newsletter for daily crypto updates!