Top Analysts Say Blue-chip Altcoin Poised to Trigger 70% Rally, Updates Outlook on Ethereum

A widely followed cryptocurrency analyst and trader believes one of the top 10 altcoins by market capitalization is set to rise by double-digit percentage points from its current level.

The analyst known by the pseudonym Bluntz tells his 260,900 followers on the social media platform X that BNBthe utility token for the BNB Chain ecosystem will reach a price of at least $1,000.

“There’s no way BNB won’t get a four-digit handle this cycle.”

Based on the Bluntz chart of BNB on the weekly time frame, it appears that the pseudonymous analyst who sometimes uses Elliott wave theory in his technical analysis expects BNB to reach a price of around $1,200 in a five-way pattern waves – a gain of about 71% from the current level.

Elliott wave theory states that the main trend in the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.

Source: Bluntz/X

At the time of writing, BNB is trading at $700, about 1% lower than the all-time high of $710 reached on June 5.

Next up is the Ethereum/Bitcoin (ETH/BTC) pair. The pseudonymous analyst He says that the downward movement that followed a bearish divergence that had formed on the 12-hour timeframe of ETH/BTC appears to be over.

A bearish divergence is a technical analysis pattern characterized by the price of an asset moving up while an indicator, the Relative Strength Index (RSI), in this case, is trending down.

“Big move coming soon and I’m leaning upward at the moment.”

Source: Bluntz/X

Ethereum (ET) is trading at 0.05358 BTC ($3.802) as of this writing.

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