Bluntz, an anonymous cryptocurrency analyst known for their accurate predictions, shared their latest update on Ethereum (ETH) and Litecoin (LTC), as well as their expectation for a rise in Fantom (FTM), which is among the top 100 altcoins.
Bluntz Expects FTM to Soar
Bluntz believes that Fantom, currently ranked 53rd among the top 100 cryptocurrencies by market capitalization, is on the verge of a powerful rally.
Based on the technical analysis tool Elliot Wave Theory, Bluntz suggests that FTM appears to have completed a downward three-wave correction formation around an important Fibonacci retracement level. The analyst’s analysis indicates that the altcoin is likely to continue its main upward trend.
According to Elliot Wave Theory, a correction occurs in a three-wave phase, while the main trend occurs in a five-wave phase.
Regarding Fantom’s local presence, the analyst stated, “FTM has started to form a nice bottom structure. A strong reaction from an important 0.618 Fib level and a general structure from peak levels at $0.33 resemble an A-B-C (wave pattern) correction formation. I believe that FTM will fly above $0.28.”
At the time of writing, FTM has reached the indicated $0.28 level and is trading at $0.3105, marking an 11.34% increase in the past 24 hours.
Analyst’s Price Prediction for Ethereum and Litecoin
Following Fantom, Bluntz moves on to Ethereum and Litecoin. They believe that ETH has a gloomy outlook on lower timeframes and predicts that it could drop below $1,790.
On the other hand, the analyst states that LTC has completed a three-wave correction formation at an important Fibonacci retracement level and is moving towards surpassing $102.
