A renowned cryptocurrency analyst and trader, who goes by the pseudonym Bluntz, is expressing a positive outlook on NEAR Protocol (NEAR), an altcoin ranked in the top 20 by market capitalization. Bluntz, who has a following of 257,300 users on the social media platform X, notes that NEAR is currently outperforming other cryptocurrencies. He believes that NEAR is a market leader and predicts that it will be one of the first to reach new all-time highs.

Bluntz’s analysis, based on an eight-hour chart, indicates that NEAR may reach a target price above $10, which represents a 40% increase from its current level. He observes a potential surge in a five-wave pattern that began in mid-April. According to the Elliott Wave theory, which Bluntz frequently employs in his technical analysis, the price of an asset typically moves in a five-wave pattern during the main trend, while a correction occurs in a three-wave pattern. As of now, NEAR is trading at $7.15.

In regards to Bitcoin (BTC), Bluntz suggests that the leading cryptocurrency is showing signs of a trend reversal on the one-hour chart. His chart analysis reveals a bullish divergence, where the price of Bitcoin was trending downwards while the Relative Strength Index (RSI) indicator was moving upwards. The RSI is a momentum oscillator used to identify overbought or oversold conditions. Bluntz maintains a risk-on perspective and anticipates new all-time highs for Bitcoin within the next one to two weeks. Currently, Bitcoin is trading at $63,000.

Please note that the opinions expressed by Bluntz on The Daily Hodl are not investment advice. Investors are advised to conduct their own research before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. All transfers and trades are carried out at the individual’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice. Please be aware that The Daily Hodl engages in affiliate marketing.