A cryptocurrency analyst and trader known as Bluntz is sharing positive sentiment about NEAR Protocol, an altcoin ranked in the top 20 by market cap. Bluntz, who has a following of 257,300 on X, believes that NEAR is outperforming other crypto assets and will be one of the first to reach new highs. According to Bluntz’s analysis, NEAR’s price has the potential to surge by 40% to above $10 based on an eight-hour chart. Bluntz utilizes the Elliott Wave theory, which suggests that asset prices move in five-wave patterns with corrections occurring in three-wave patterns. Currently, NEAR is trading at $7.15.
In addition to NEAR, Bluntz also discusses Bitcoin. According to Bluntz’s one-hour chart, the flagship cryptocurrency is showing a reversal signal. A bullish divergence has formed, where the price of Bitcoin was declining while the Relative Strength Index (RSI) indicator was trending upwards. The RSI is a momentum oscillator that helps determine overbought or oversold conditions. Bluntz remains optimistic about Bitcoin, expecting new all-time highs within the next one to two weeks. As of now, Bitcoin is trading at $63,000.
Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Transfers and trades are done at the individual’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is it an investment advisor.
