as if Twitter Two days ago, Blutz predicted that ETH would only have a 10% decline left to stabilize. The crypto trader is famous for accurately predicting the 2018 bitcoin market. The strategist, best known as a “smart contractor,” revealed that he had been closely following the ETH price charts since August.
“Ethereum is in the final stages of its current bull run and will soon go higher,” he confirmed to his 211,000 followers. Once the token corrects its course, investors can prepare to hold long positions, the tweet said.
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Smart Contractor predictions have been made so far.
Smart Contractor has provided a chart based on Elliott Wave Theory as evidence for its predictions. As one of the famous theorists of this market analysis method, Bluntz has already successfully made some predictions. Apart from the highly regarded 2018 Bitcoin forecast, the strategy’s latest predictions seem to hold for Ethereum so far. Smart Contractor last month predicted a September $1800 rally using the Wave crowd psychology method.
At the time of his prediction, the second largest crypto was trading at a low of $1600. The analyst predicted that ETH would temporarily rise in wave B before another rally. ETH is predicted to drop to $1,200 before climbing back to $2,000.
Other predictions by Smart Contractor
We are in the final innings of this $eth correction, correcting the rise from July. “We’ve been phasing this out since the top of August before we started looking for long-term buys,” Bluntz said.
Furthermore, the analyst’s chart indicates that Ethereum is going through another drop and will eventually turn into a bull run. $1,300 will mark a buy signal point if the chart structure is correct, said the simulated strategist.
Notably, Ethereum isn’t the only crypto smart contractor is tracking. Last week, the price charts looked ugly at the time and expressed bearish sentiments on Bitcoin. Another popular analyst ‘Dave the Wave’ predicted that the King Coin is preparing for a bull run based on the MACD chart. However, Blutz insists that Bitcoin is still expecting many more dips. He announced that he will not buy Bitcoin until it drops below $17,000.
Many factors contribute to the current volatility of the Crypto market
Although Smart Contractor’s predictions have yet to be disproved, there is still time for his predictions to be confirmed or discounted. Several factors continue to contribute to crypto volatility, including inflation, CPI releases, and Ethereum consolidation. Therefore, it is best for crypto traders and investors to carefully monitor their investment decisions.
Related Read: Bitcoin Loses $20,000 Handle, Extends Consolidation For 2nd Straight Day
According to TradingView data, at the time of writing, Ethereum is trading at $1,470, up 2.50% in the last 24 hours.
Featured image from Pixabay and chart from TradingView.com