Bluntz Predicts Ethereum Could Reach $3.5K Amid Market Optimism

Bluntz, a Master Trader on ByBit, expressed bullish sentiments on Ethereum ($ETH), predicting it may reach $3.5K before mid-June while currently trading at approximately $2.5K. He bases this outlook on the Elliott Wave Theory, noting that Ethereum is in Wave 4, within a consolidation triangle pattern. A breakout above $2.75K could initiate Wave 5.

Key points include:

$BTC recently reached an all-time high, indicating potential upward movement in the crypto market.
Wave analysis shows $ETH moved from $1.5K to $2.7K, followed by consolidation.
Bluntz also supports SPX6900 ($SPX), predicting a rise towards $2 from its current trading price of $0.9069.
Mosesifunanya, a trader, highlights positive MACD divergence for $SPX, indicating a bullish bias.
Technical indicators suggest strong bullish sentiment for both $ETH and $SPX as the market regains momentum.

Overall, the market appears poised for potential growth, with several coins in critical consolidation phases.