Leading Analyst Predicts Meteoric Rise of Mid-Cap Altcoin

A well-known cryptocurrency trader represents his outlook on Ethereum (ETH) and Litecoin (LTC) while expressing a bullish view on one top-100 altcoin.

Fantom (FTM), the 53rd-largest stock by market size, is about to experience a surge, according to pseudonymous analyst Bluntz, who has 223,600 followers on Twitter.

Fantom appears to have finished a three-wave corrective pattern downwards around a significant Fibonacci retracement level, according to Bluntz, who utilizes the Elliot Wave theory as one of his technical analysis tools and is poised to resume the primary upward trend. According to the Elliot Wave theory, the primary trend develops in a five-wave pattern, whereas a correction happens in a three-wave design.

“Nice basing structure beginning to form here on FTM.

Strong reaction from a major 0.618 Fib level and overall structure from the $0.33 highs looks like a corrective A-B-C [wave pattern].

Above $0.28 and I think FTM flies.”

Fantom now has a value of $0.282.

According to the expert, the lower time frames for ETH point to a “pretty bleak” future for Ethereum. According to Bluntz’s charts, Ethereum is expected to fall below $1,790.

“The lower timeframes looking pretty bleak on ETH.”

At the time of writing, the price of Ethereum is $1,885.

Regarding Litecoin, Bluntz indicates on a chart that the 11th-largest cryptocurrency asset by market capitalization has finalized a three-wave corrective pattern at a significant Fibonacci retracement level and is on track to rise above $102.

At the time of writing, Litecoin is trading for $99.82.