Top Crypto Analyst Says Red-Hot ETH-Based Altcoin Will Do ‘Really Well’

June 23, 2023

A well-known crypto trader thinks that an altcoin based on Ethereum (ETH) that has been doing well is about to make a big move.

Bluntz, crypto analyst, tells his 223,000 Twitter followers that the price trend of indexing protocol The Graph (GRT) shows that its value could go up by 150% from where it is now.

The trader said that GRT got out of a rising triangle and finished an Elliot Wave Theory three-wave correction pattern with the letters A, B, and C.

“So many good setups out there that I’m liking, nice ascending triangle break out GRT 4-hour, plus huge abc looks complete on weekly timeframe as well, potential for this to do really well.”

When the investor looks at his chart, he thinks that the price of The Graph will soon go up to at least $0.25.

The price of the Graph has gone up a lot since the beginning of the year. In December 2022, it was worth about $0.05. At the time this was written, GRT was worth $0.10, which is 1.9% less than it was 24 hours ago.

The top smart contract tool, Ethereum, is also on the traders’ radar.

Bluntz says that ETH has broken out of a falling triangle, and he thinks that the price will rise to $2,400 by July. On the ETH/BTC map, he also points out that ETH is getting stronger against Bitcoin (BTC).

“ETH/BTC finally swept its major lows overnight which coincided with a bull flag break on daily USD pair. Time to get some ETH exposure here in my opinion, targeting new highs. Haven’t been this excited about crypto in months.”

At the time of writing, Ethereum is worth $1,878. This is 2% less than it was 24 hours ago.

Last but not least, Bluntz points out that Bitcoin’s biggest rise this week has erased its two-month-long drop.

“It’s times like these we get reminded why crypto is the best asset class to trade, two months of downside BTC price action reclaimed in a single weekly candle.”