A well-known analyst and trader has provided insights into the potential price movements of three cryptocurrencies. The analyst, known as Bluntz, suggests that Near Protocol (NEAR), a blockchain platform rivaling Ethereum, could reach a new high in 2024, surpassing its recent 22-month peak of $9.01. Bluntz utilizes the Elliott Wave theory in his analysis and believes that NEAR is currently experiencing two five-wave patterns on its four-hour chart. Bluntz’s chart indicates that one of these patterns could conclude above $8.80, while the other may reach around $9.53.
Bitcoin and Ethereum are the next assets evaluated by Bluntz. The analyst states that both cryptocurrencies appear to have established price floors and are poised to move higher. Bluntz’s charts indicate that Bitcoin and Ethereum have completed three-wave corrective patterns on the 15-minute and one-hour timeframes, respectively.
Regarding Dogecoin, Bluntz suggests that the popular meme-based cryptocurrency has completed a three-wave corrective pattern on the 30-minute chart, potentially signaling the end of a downtrend. Bluntz expresses confidence in the strength of Dogecoin’s current rally and hints that further significant pullbacks may not occur.
At the time of writing, NEAR trades at $7.84, Bitcoin at $71,163, Ethereum at $3,645, and Dogecoin at $0.189.