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Ethereum Bulls Unleash ‘Inevitable Rage Pump’ After Multi-Month Accumulation

John KumiBy 0Edited by John Kiguru 10. December 20233 Mins Read
Bitcoin BTC cryptocurrency coin with altcoin digital crypto currency tokens, ETC Ethereum, ADA Cardano, LTC Litecoin, IOTA Miota, ZEC Zcash for defi decentralized financial banking p2p global market
  • The analyst predicts that Ethereum could witness another rally as it moves away from the multi-month accumulation range to the bullish zone. 
  • Bitcoin is also expected to hit $53,000 using the Elliott Wave theory.

Ethereum (ETH) is currently up by 12% in the last seven days with a bullish market sentiment at a score of 61/100. In the last three months, the asset has surged by 45%, adding $738.93 to its previous price. As of press time, Ethereum was trading at $2,362.60 after recording a 24-hour gain of 0.24%. 

Analysts believe that the asset could go down below $2000 when sellers reject additional surges. If that does not happen, the price could move to $3000. Speaking on the asset, an analyst pseudonymously known as Bluntz has disclosed to his 230,700 X followers that Ethereum is only gearing up for another bullish run. According to him, the asset is currently moving from its multi-month accumulation range to enter the bullish zone. This implies that investors focusing on the ETH/BTC could be left behind.

ETH has well and truly broken out of a year-and-a-half range now. Just waiting for the inevitable rage pump that catches everyone out while they’re too busy shi**ing on ETH/BTC.

When paired against the USD, Ethereum is 93 percent up from year to date. However, the asset is 23 percent down from year to date when paired against Bitcoin. 

Bluntz Analysis on Bitcoin and Sui After Bullish Prediction on Ethereum

The analyst also made a quick price analysis on Bitcoin (BTC). As of press time, the leading crypto asset was trading at $43,838.46 with a sentiment score of 53/100. In the last 24 hours, Bitcoin was up by 0.63%, and also up by 13% in the last seven days.

Interestingly, Bluntz believes that the current rally that started from the $36,000 price level could be extended. 

All I see is people taking profit and warning of impending 10-15% pullbacks. You all are not ready for how far this leg from $36,000 extends.

Bluntz is reported to be a fan of the Elliott Wave theory. This theory predicts the future price action using crowd psychology that appears in waves. The theory discloses that a bullish rally goes through a five-wave rally. Interestingly, each wave has five sub-waves. Using this theory, it is likely that the Bitcoin price would finish its five-wave surge at $53,000. A price prediction platform has also predicted that the minimum the Bitcoin price could go this year is $52,606.15. On average, Bitcoin is expected to trade at $65,757.68. From here, it could target $78,909.22 before the year ends. 

Bluntz also spoke about the layer-1 smart contract blockchain Sui (SUI). According to him, this altcoin is preparing for a bullish run.

SUI is another new coin that looks ready for the markup phase. Had an 80% decline after the initial listing pump and now some very nice accumulation.

Sui is currently trading at $0.702186 after surging by 1.58% in the last 24 hours. The asset has also made a weekly run of 13%. According to analysts, the highest this asset can go before the year ends is $1.26. 

 

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

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