A crypto analyst identified for precisely calling Bitcoin’s (BTC) 2018 backside believes that bullish worth actions are in retailer for Ethereum (ETH), Fantom (FTM) and one low-cap altcoin.
Pseudonymous analyst Good Contracter tells his 221,400 Twitter followers that Ethereum rival Fantom seems prepared for an uptrend after finishing its corrective transfer down and breaking out of a diagonal resistance.
“Good FTM downtrend break on USD pair and BTC pair and macrostructure is a giant clear three wave transfer down. Exhausting to not be searching for longs on some issues now in gentle of this weekend worth motion.”
Good Contracter practices the Elliott Wave concept, a complicated technical evaluation method that tries to foretell future worth motion by following crowd psychology that tends to manifest in waves. Based on the idea, a bullish asset sometimes resumes its uptrend following a three-wave transfer down or an ABC wave.
At time of writing, FTM is buying and selling for $0.413, properly above the analyst’s diagonal resistance at $0.37.
Subsequent up is the blockchain indexing protocol The Graph (GRT). Based on the crypto dealer, GRT additionally seems bullish after concluding its ABC wave down.
“So many alts look superb.
GRT additionally has a clear ABC down on weekly after five-wave rise.”
At time of writing, GRT is value $0.144, up over 10% prior to now day.
Ethereum, Good Contracter says the highest altcoin seems robust after rallying from a low of $1,372 on March tenth to shut the earlier week above $1,500.
“Rattling, ETH weekly wanting hella bullish now, absolute stable purchase again heading into the shut.”
At time of writing, Ethereum is buying and selling for $1,678, a rise of over 5% within the final 24 hours.
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