Known for accurately predicting Bitcoin‘s 2018 bear market bottom, the anonymous cryptocurrency analyst Bluntz has identified a significant rise opportunity in Near Protocol (NEAR), which is seen as a competitor to Ethereum (ETH). The analyst also made rally predictions for Arbitrum (ARB) and Slerf (SLERF).
Bluntz Expects NEAR to Reach Up to $10
Alerting his followers on social media platform X to the potential opportunity in NEAR, the mainnet asset of the Near Protocol network, Bluntz expects a significant rally in the altcoin. His forecast suggests NEAR could reach levels last seen in May 2022. Known for using the Elliott Wave theory, Bluntz believes NEAR is currently in a five-wave uptrend that could bring the altcoin close to $10 in the short term.
Bluntz’s analysis indicates that NEAR has made a clear ABC correction from its previous highs, followed by an accumulation period over the weekend, culminating in a breakout. The analyst’s assessment follows the Elliott Wave theory’s proposition that assets complete a correction and then embark on a five-wave rally.
Bluntz Also Predicts Rallies for Arbitrum and Slerf
In addition to NEAR, Bluntz pointed out the Ethereum scaling solution Arbitrum, which he believes is showing multiple bullish reversal signals on the daily chart. The analyst expects a potential uptrend for ARB and a significant bullish breakout in the altcoin due to renewed interest in Ethereum-related assets.
Analysts often pay close attention to assets showing a bullish trend, as it indicates the trend may reverse despite price moving down or sideways. Bluntz’s analysis underscores ARB’s potential to show a bullish trend and contribute to renewed positive sentiment towards Ethereum-based projects.
On the other hand, Bluntz also made a rally prediction for the Solana (SOL) based memecoin Slerf, noting that it appears to have recovered from the sell-off pressure following the initial excitement. Taking advantage of the cooling period, the analyst disclosed that he has taken a position in SLERF, which is currently priced at $0.767 and has reflected a notable increase of over 17% in the last 24 hours.
