A widely followed crypto strategist who accurately predicted the Bitcoin (BTC) bottom in 2018 shared his rally predictions for Ethereum (ETH), Phantom (FTM) and a low-value altcoin.
Known as the Smart Contracter in the crypto markets, the analyst turned the attention of his 221,400 Twitter followers to Ethereum rival Fantom. pulled. According to the analyst, the altcoin has completed its corrective bearish move and is ready to move higher:
“There is a nice trend break in the USD trading pair and the BTC trading pair and the macro structure (big, three-wave movement pattern to the downside). In light of this weekend’s price action, it’s hard not to expect a long position on some coins.”
Smart Contracter is a popular practitioner of Elliot Wave theory. This theory is a technical analysis tool that manifests in waves and predicts future price movements by following crowd psychology. According to the theory, an asset typically moves into an uptrend after a three-wave down move or an ABC wave.
At press time, FTM is trading at $0.413, well above the analyst’s diagonal resistance of $0.37.
The other altcoin on the analyst’s radar is The Graph (GRT). According to the crypto trader, GRT is also bullish after completing the ABC wave.
“A lot of altcoins look great. GRT also has a clear weekly ABC drop after five fluctuating highs.”
Finally, the analyst also examined the leading altcoin Ethereum. Smart Contracter says ETH looks strong.
“Damn, on a weekly basis ETH is currently trending up tremendously.”
You can follow the current price action here.