According to a crypto strategist who predicted the bottom of the 2018 Bitcoin (BTC) bear market, Ethereum (ETH) is showing signs of bullish fatigue.
The analyst, nicknamed Bluntz, tells his 222,800 Twitter followers that Ethereum likely showed a bearish setup when it surged to around $2,000 last week.
According to a chart shared by Bluntz, it seems to predict a short-term rally before correcting as high as $1,700 for ETH in the coming days.
“I don’t know about you, but ETH certainly doesn’t seem very hot to me.
NEWS CONTINUES BELOWA clear five-wave bearish, three-wave slow move back to 0.618 Fib and another strong sell here.
This points to a lower peak to me.
NEWS CONTINUES BELOWI think the next stop I will reevaluate might be $1,700.”
At the time of this writing, Ethereum is trading at $1,852.
Bluntz is also the utility coin of the world’s largest crypto exchange. Binance CoinHe’s also looking at (BNB). According to the analyst, BNB is trending bearish in both USD and BTC pairs.
“A very important structure is lost in the BNB/USD pair and the BNB/BTC pair. This situation is already in a major downtrend.
The market seems to be trying to price something in this pair. I’m not sure, but it doesn’t seem very warm to me.”
Looking at Bluntz’s chart, it seems that he is predicting a BNB correction towards the $260 price area. At the time of this news altcoin It is trading at $313.