One Mid-Cap Altcoin on Cusp of Skyrocketing Higher

A crypto trader with a large following shared positive views on a highly-ranked altcoin and provided updates on Ethereum (ETH) and Litecoin (LTC).

The trader, known as Bluntz, shared with his 223,600 Twitter followers that Fantom (FTM) is likely to experience a surge in value soon. Currently ranked as the 53rd largest cryptocurrency by market cap, FTM is poised for a rally according to Bluntz.

As per Bluntz, who utilizes the Elliot Wave theory for technical analysis, Fantom seems to have finished a downward three-wave corrective pattern near an important Fibonacci retracement level and is now set to continue its main upward trend. The Elliot Wave theory suggests that corrections happen in a three-wave pattern, while the main trend happens in a five-wave pattern.

“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 is worth $0.282 at time of writing.

Looking at ETH, the analyst says that the lower time frames are suggesting a “pretty bleak” future for Ethereum. From Bluntz’s charts, it appears that he is projecting Ethereum to plummet to below $1,790.

“The lower timeframes looking pretty bleak on ETH.”

As of writing this, the current trading price of Ethereum is $1,885.

Moving on to Litecoin, according to Bluntz’s chart analysis, it seems that the 11th largest cryptocurrency by market capitalization has finished a three-wave corrective pattern at a significant Fibonacci retracement level, indicating that it is likely to surge past $102.

Trader Michaël van de Poppe, who has a significant following of 660,000 on Twitter, suggests that AVAX appears to be in a bullish position after briefly surpassing the resistance level of $14.

Van de Poppe further adds that Avalanche may undergo a cooling-off phase before launching into the next upward trend.

“Great move here, breaking through previous highs. Swept all the highs, so some consolidation seems likely. In that regard, areas at $12.70-$12.95 are potentially for buying the dip towards $16.”

Currently, AVAX is being traded at $13.33. Moving on to Zilliqa (ZIL), which is a blockchain specifically designed for business solutions.