A crypto analyst, who makes accurate predictions for Bitcoin’s bottom levels, says that the leading altcoin Ethereum is at the breaking point against Bitcoin. Also, the analyst suggests that a rising altcoin has more fuel in its tank.
If that happens, it will be playtime for the leading altcoin!
Known for Bitcoin crashes, which we know as Smart Contracter or Bluntz, the well-known crypto analyst shared his latest predictions. The analyst says that the bullish sentiment prevails on Ethereum (ETH) when paired with Bitcoin (BTC). Bluntz predicts that the Ethereum/Bitcoin (ETH/BTC) pair is likely on the verge of a breakout. In the meantime, check out this article from Kriptokoin.com for the analyst’s accurate predictions.
According to the analyst, if and when this breakout occurs, Ethereum is likely to rally strongly against Bitcoin. In this context, the analyst makes the following statement:
ETH/BTC is potentially on the verge of a major breakout. Not sure if it will happen yet. However, it will be playtime for ETH if it happens.
Source: Bluntz / TwitterAccording to the attached chart shared by the analyst, the ETH/BTC pair is forming a falling wedge formation. This too is typically considered a bullish pattern. The altcoin is trading at 0.06897834 BTC or $1,868 at press time. Ethereum is slightly bullish on the daily chart, while holding the 3.5% green zone on the weekly chart.
Bluntz: That’s never a good sign!
The analyst then looks at the Bitcoin/USD pair. Bluntz suggests that the leading coin gave a red flag after falling below a key support level. Moving from this, the analyst said, “Bitcoin has returned to the breakout range. This is never a good sign. It may be time to reduce the risks again,” he concludes.
Source: Bluntz / TwitterAt press time, the leading crypto was trading at $26,899, down 0.76% on a daily basis. However, on the weekly chart, BTC is still in the green at 1.60%.
This altcoin still has enough fuel in its tank!
The analyst also shares his views on The Graph (GRT), which has risen a little more than 10% over the past seven days. In the meantime, let’s mention that Graph is a leading Blockchain indexing protocol. According to his analyst, GRT has more upside potential after breaking out of a falling wedge formation. Bluntz expresses his views on this issue as follows:
The key $0.13 resistance level on GRT has now cleared. The altcoin has done nothing but rise since the net channel break. This is one of my favorite builds for trading… I think there’s still plenty of fuel in the tank.
Source: Bluntz / TwitterAt press time, GRT is changing hands at $0.1284, down 2.78% on a daily basis. Although the altcoin threw a pin at $0.1452 during the day, it failed to hold here and returned at the same speed.
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