Bluntz, a well-known cryptanalyst with 221,000 followers, accurately predicted the Bitcoin crash in 2018.
However, he now predicts a rise in ETH and assures that the correction has been completed and it’s ready for growth.
According to his technical analysis, Ethereum has already reached its semi-annual low and is now within 3% of the buying zone.
Although the analyst does not expect this to happen in the near future, he advises traders not to miss out on the opportunity to earn.
Bluntz provides a chart that highlights the ETH/BTC trading pair reaching an important support level of 0.618 Fibonacci, which is considered a buy signal by traders.
Statistical data also supports trader optimism, with holders of 10 to 10,000 ETH increasing their assets by 3.61 million coins over the past year, which is equivalent to $6.13 billion.
Larger players also continue to purchase ether, adding 9.43 million coins over the same period. Notably, Michael Van De Popp also previously predicted the growth in value of the second largest cryptocurrency by capitalization.