A popular crypto analyst also made a bullish forecast for an Ethereum (ETH)-based altcoin. Analyst thinks that this altcoin, which investors overlooked, is about to go on a big rise.
Known in the cryptocurrency markets as Smart Contracter, the analyst told 220,200 Twitter followers that Mask Network (MASK) is poised for a surge following the correction. told.
The analyst’s prediction of the altcoin is based on the Elliott Wave theory. Elliot Wave 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 goes through a five-wave cycle before reversing a major trend. Looking at the analyst’s chart, it appears that MASK has completed wave ABC and the trend has reversed.
According to the chart, the analyst predicts MASK will hit $6.50 by the end of this month. Mask Network is trading at $3.48 at press time.
Koinfinans.com As we reported, the analyst also predicts that Bitcoin (BTC) is about to form a three-wave price pattern and could decline to $21,864 and $21,560 lower price levels before a bounce.
“If we are doing an ABC drop in BTC, then the wave of equity between this move and the first move should take us to $21,864 and the 200-day moving average on this 4-hour chart is not far from $21,560. These are the levels I seek for long positions.”
Finally, Smart Contracter says that the leading altcoin Ethereum (ETH) has formed a horizontal triangle pattern that can break upwards. But he adds that his only concern is that the BTC structure will look completely different.
final leg up and an end to almost 4 weeks of chop on $eth should be resolving soon, my bias is up however my only concern is btc structure looks completely different pic.twitter.com/C91RQdPAx6
— Bluntz (@SmartContracter) February 9, 2023
You can follow the current price action here.