A famous crypto analyst is a popular tier-1 altcoin He made predictions for and claimed that it was on an upward trend.
Crypto analyst nicknamed Bluntz to his followers on X AvalancheHe says the current price movement of (AVAX) mirrors the price movement of Bitcoin (BTC), which gained value in October and November.
The analyst says he has established a pattern that could see Avalanche reach a price of $50, approximately 17% above its current level.
According to the four-hour chart from the trader who uses Elliott Wave Theory in his technical analysis, Bluntz suggests that Avalanche has completed two waves of a five-wave bullish pattern so far and is on track to potentially push the 10th-largest crypto asset above $50.
Elliott Wave Theory is a tool used to predict future price movements based on the assumption that prices move in repeatable and predictable patterns consisting of five waves.
Koinfinans.com As we reported, Avalanche is trading at $42.77 at press time, an increase of 372% from the $9.06 price reached on October 20.
The analyst also noted that the smart contract platform paired with Bitcoin (SOL/BTC) solana He also offers his views on (SOL). According to Bluntz, SOL/BTC has been trading in a range on the verge of a breakout for 37 days. Bluntz says that after the breakout, the SOL/BTC pair could experience the “steepest” rise ever recorded.
Solana is trading at 0.00181019 BTC at the time of writing.