Analyst predicts significant growth for Ethereum’s main competitor

A leading cryptocurrency trader who accurately predicted the minimum price of bitcoin (BTC) during the 2018 bear market has published a new forecast. According to Bluntz, one of Ethereum’s (ETH) rivals looks extremely bullish.

The analyst told his 251,100 followers on the social media platform X that the Near (NEAR) protocol’s first-level asset will reach its value in May 2022. According to the analyst, NEAR is in the midst of a five-wave surge that could see the altcoin soar to almost $ 10 in a matter of days.

«NEAR looks turbo bullish, clear ABC down from the highs, spent all weekend accumulating and now breaking out. It should be one of the first to reach new highs, in my opinion,» Bluntz emphasized.

The expert uses the Elliott Wave theory to predict the future price behavior of cryptocurrencies. According to this theory, a bullish asset tends to have a five-wave rally after the ABC correctional movement is completed.

In February, NEAR token was included in the list of altcoins whose value will increase significantly. According to The Flow Horse, a bull market cycle is about to begin, similar to the parabolic rally we saw in mid-2020. In anticipation of a huge rally, The Flow Horse is accumulating several altcoins, including its own assets of smart contract platforms Solana (SOL), Near (NEAR), Sui (SUI), and Avalanche (AVAX).