The renowned anonymous crypto analyst Bluntz, who once accurately called the bottom of Bitcoin‘s 2018 bear market, is casting a bullish forecast for the Near Protocol’s native asset, NEAR. According to him, this digital currency, often touted as Ethereum‘s rival, is set to undergo a major price increase. Bluntz, who analyzes market trends through Elliott Wave theory—a method that predicts future price movements based on crowd psychology—has also provided optimistic outlooks for other cryptocurrencies, including Arbitrum and Slerf.
NEAR on Track for a Remarkable Price Surge
Bluntz has alerted his social media followers about the uptrend potential of NEAR, predicting it might revisit its previous high from May 2022. According to his analysis, NEAR has completed a necessary correction and is primed to ascend in a five-wave pattern that could push its value near the $10 mark.
The analyst has highlighted a distinct ABC correction for NEAR followed by a period of accumulation. This phase concluded with a breakout, which aligns with the Elliott Wave theory’s pattern of an asset undergoing a correction before entering a progressive five-wave rally.
Arbitrum and Slerf Also Set to Rally, Says Bluntz
Expanding his bullish predictions beyond NEAR, Bluntz has also identified strong bullish signals for Arbitrum (ARB), an Ethereum scaling solution. He suggests that renewed interest in Ethereum-centric assets could fuel an uptick in ARB’s price. Bluntz’s perspective is significant, as analysts often monitor assets that exhibit bullish reversal patterns since they can indicate a potential trend reversal.
Furthermore, Bluntz is optimistic about the prospects of Slerf (SLERF), a memecoin based on the Solana blockchain. After a period of sell-off that typically follows initial hype, it appears SLERF is regaining momentum. Bluntz has invested in this coin, which has seen over a 17% price increase in the past day, signifying potential growth.