Ethereum

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 <p>A widely followed cryptocurrency analyst and trader believes that a top-10 altcoin by market cap is destined to rally by double-digit percentage points from the current level.</p>
 <p>The analyst pseudonymously known as Bluntz tells his 260,900 followers on the social media platform X that BNB, the utility token for the BNB Chain ecosystem, is set to reach a price of at least $1,000.</p>
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 <p><i>“There’s no way BNB doesn’t get a four-digit handle this cycle.”</i></p>
 <p>Based on Bluntz’s chart of BNB on the weekly timeframe, it appears that the pseudonymous analyst who sometimes employs the Elliott Wave theory in his technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> expects BNB to reach a price of around $1,200 in a five-wave pattern – a gain of about 71% from the current level.</p>
 <p>The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.</p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GPRdqiBa4AAZegk?format=jpg&amp;name=small" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Bluntz/X
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 <p>BNB is trading at $700 at time of writing, around 1% below the all-time high of $710 reached on June 5th.</p>
 <p>Next up is the Ethereum/Bitcoin (ETH/BTC) pair. The pseudonymous analyst says that the downward movement that followed a bearish divergence that had formed on the 12-hour timeframe chart of ETH/BTC appears to have ended.</p>
 <p>A bearish divergence is a technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> pattern characterized by the price of an asset going up while an indicator, the Relative Strength Index (RSI) indicator, in this case, is trending downwards.</p>
 <p><i>“Big move soon and I’m leaning towards up, at the moment.”</i></p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GPQj7XzaUAAUBs9?format=jpg&amp;name=small" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Bluntz/X
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 </figure>
 <p>Ethereum (ETH) is trading at 0.05358 BTC ($3,802) at time of writing.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-analyst-says-blue-chip-altcoin-primed-to-spark-70-rally-updates-outlook-on-ethereum-tbt91627.html">https://thebittimes.com/top-analyst-says-blue-chip-altcoin-primed-to-spark-70-rally-updates-outlook-on-ethereum-tbt91627.html</a></p>

Top Analyst Says Blue-Chip Altcoin Primed To Spark 70% Rally, Updates Outlook on Ethereum

TheBitTimes

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