Key Insights:
- The altcoins market is looking pretty good at the moment, especially after Bitcoin’s impressive recovery from last week’s series of bank runs.
- A crypto analyst sent out Tweets last week, about which altcoins might be bullish over the coming weeks.
- These altcoins are Ethereum, Fantom and The Graph
The altcoins market has looked bleak for far too long, especially since the start of the 2021 bear run that has spanned two years and counting.
In times like these, it is important to keep in touch with market trends and try to make the most out of the crypto market’s volatility.
After scouring the internet and the charts of several cryptocurrencies, we have compiled a list of the most bullish-looking cryptocurrencies on the market.
This article will list some of the altcoins worth considering for profitable trading over the next few weeks, and for the rest of March.
Without further ado, here are some of them.
Which Altcoin to Consider?
The crypto market is looking pretty good at the moment, especially after Bitcoin’s impressive recovery from last week’s series of bank runs.
Most of the altcoins on the market are currently looking green as shown in the snapshot below and may possess an even stronger possibility of staying green for longer than others.
However, a crypto analyst known as the “Smart Contracter” or Bluntz, who is also famous for his accurate prediction of the 2018 Bitcoin bottom, sent out a series of tweets, detailing which altcoins he thinks are worth looking at, over the coming weeks.
This analyst, pseudonymously known as “Bluntz” is famous for several other accurate price predictions over the last few years. This time, however, he believes that green days are coming for Ethereum, Fantom in particular, as well as a relatively lesser-known altcoin known as “The Graph”.
Here are a few of his reasons for choosing the three, and what we think.
Ethereum
In a tweet on Sunday this week, Bluntz sent out a tweet with the words:
damn $eth weekly looking hella bullish now, absolute solid buy back heading into the close pic.twitter.com/sgy21O2Uf3
— Bluntz (@Bluntz_Capital) March 12, 2023
In essence, the weekly chart shows Ether slowly ascending from its $1,000 low in June last year, with the cryptocurrency reaching the $1,600 zone where it appears to be consolidating.
Bluntz’s chart also shows Ether above its 20-period weekly moving average of around $1,437, with the next target being the 100-period weekly moving average of around $2,405.
Judging by this, the next medium-term target for the cryptocurrency appears to be a 36.75% increase to the upside from where it currently sits.
Ethereum also looks highly promising from a daily perspective, after bouncing off its $1,366 low last week.
All things considered, this might be a good opportunity to present itself to the swing traders over the next few weeks.
Fantom (FTM)
In the same series of tweets as the first, Bluntz mentions another interesting altcoin: Fantom. In the tweet, the crypto analyst says:
nice $ftm downtrend break on usd pair and btc pair and macro structure is a big clear 3 wave move down.
hard not to be looking for longs on some things now in light of this weekend price action pic.twitter.com/QSXUrdde9Q
— Bluntz (@Bluntz_Capital) March 12, 2023
In essence, the analyst is citing the Elliott wave theory to make his point. The Elliott Wave Theory is a lesser-known theory about the price action of certain financial assets.
This theory is used by traders and analysts to predict the future movement of an asset, based on a series of five trend-following waves, and three corrective waves.
In simpler terms, the analyst is saying that the cryptocurrency may have just ended the last corrective wave, and may be on its way to starting a new trend-following wave.
Perhaps a more explanatory chart may suffice:
As illustrated above, the red arrows show the newly ended corrective move on $FTM. And true to Bluntz’s prediction, a new uptrend has started (illustrated with the green arrow).
This may be the beginning of a new trend-following move to the upside. And if things pan out, $FTM is expected to be highly bullish over the next few weeks.
The Graph
Similar to the other tweets, Bluntz mentions The Graph, an Ethereum-based blockchain indexing protocol. And according to the analyst, this altcoin also looks bullish.
Bluntz mentions that like $FTM, $GRT also has a “clean” weekly corrective move, and may be on its way to starting a new trend-following wave to the upside.
As shown by the chart above, the cryptocurrency may be on its way to another I – V trend-following wave after completing the last A – C corrective wave.
A more recent chart is illustrated below:
As shown above, by the red arrows, $GRT appears to be at the end of the previous three-wave correction and has now begun another move to the upside.
Ever since hitting a low of $0.104 on Saturday last week, the cryptocurrency has moved 51.55% to the upside and is showing little signs of weakness on the part of the bulls.
The cryptocurrency trades at $0.159 at the time of writing, and may very well be headed to the next resistance zone around $0.18.
Disclaimer: Voice of crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
