- Crypto strategist Bluntz, known for predicting Bitcoin’s bear market bottom in 2018, has now expressed a bullish stance on two low-cap altcoins – The Graph (GRT) and Fetch.ai (FET).
- Bluntz also suggests that Litecoin (LTC) seems to be heading towards his target of $100 after respecting the 0.618 Fibonacci level as support.
The Graph (GRT) Poised for a Rally
Pseudonymous crypto analyst Bluntz, recognized for his accurate Bitcoin predictions, has turned his focus towards two low-cap altcoins that show promising price action. As per his 223,100 Twitter followers, the first coin he is bullish about is the blockchain-indexing protocol, The Graph (GRT).
According to Bluntz, GRT exhibits a trend reminiscent of Bitcoin’s price action earlier this year, when it rallied from $17,000 to over $30,000. GRT, he notes, has broken out of an ascending channel and looks set for a rally towards his projected target of $0.135.
The analyst lauded the recent channel breakout on GRT, likening it to the BTC $17,000 breakout before it soared to $31,000.
“I love this pattern. I am long and strong on GRT,”
he stated. At the time of the report, GRT is trading at $0.126.
Fetch.ai (FET) and Litecoin (LTC) Display Bullish Signs
The second altcoin catching Bluntz’s attention is Fetch.ai (FET), a decentralized machine-learning network. Bluntz notes that FET seems bullish after bouncing close to the 0.786 Fibonacci level.
“Solid reaction down here on FET daily chart. The left curve ape in me is wondering if it can catch some of the hype in AI stocks,”
he commented. At the time of writing, FET is trading at $0.265.
Apart from these two altcoins, Bluntz is keeping an eye on Litecoin (LTC), a peer-to-peer payments network. He suggested that Litecoin is likely headed towards his target of $100, after respecting the 0.618 Fibonacci level as support.
“Beautiful reaction from the 0.618 on LTC. Next stop around the $100 resistance, in my opinion, then we’ll re-evaluate from there,”
he added. At the time of writing, LTC is trading for $91.59.
Despite these bullish trends, Bluntz believes that a considerable number of traders are currently on the sidelines, even as the crypto market begins to show signs of bullishness.