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

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.”

Source: Bluntz/Twitter

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

Source: Bluntz/Twitter

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.”

Source: Bluntz/Twitter

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.”

Source: Bluntz/Twitter

At the time of this writing, the price of Bitcoin is $30,022. This is 0.4% less than it was 24 hours ago.

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