During the bear market in 2018, crypto analyst Bluntz gained fame for accurately predicting the price level at which Bitcoin would hit bottom. Now, Bluntz suggests that Ethereum is about to take the center stage.
“Ethereum Could Rise Like Chainlink”
Anonymous crypto analyst Bluntz pointed out on their personal account on X (formerly known as Twitter) that Ethereum, the largest smart contract platform, closed above the monthly consolidation range for the first time last week. According to the analyst, Ethereum’s strong weekly candlestick close resembles the price movements during Chainlink‘s rally after breaking out of the consolidation range in October:
Ethereum finally made a strong breakout from the consolidation range it has been moving within for over 530 days and closed with a significant weekly candlestick. I believe this breakout is a crucial turning point for Ethereum to start rising significantly, just like LINK and other altcoins with a similar structure.
The crypto analyst also highlighted that Ethereum is showing signs of strength against Chainlink and Solana (SOL), stating, “Just like in altcoins such as LINK and SOL that have been rising monstrously, we are finally seeing a downward trend against ETH in many trading pairs. I think ETH is finally getting its way.”
Strongest Weekly Candlestick Close After 570-Day Wait
Bluntz is not the only analyst expecting a strong rise in ETH. Anonymous crypto analyst Inmortal also shared their bullish expectations, emphasizing that Ethereum made the strongest weekly candlestick close in over a year. In their ETH analysis, the analyst said:
ETH made its strongest weekly close since May 2022, which corresponds to a new macro top and a new yearly high. It’s something that cannot be seen every day.
Previously, Inmortal had predicted that the recent breakout in ETH would continue with new breakouts. The giant altcoin is currently trading just above $2,200 with a 1.43% pullback in the past 24 hours.
