A widely followed trader says that Ethereum (ETH) is about to vastly outrun Bitcoin (BTC) and is predicting one memecoin will rally hard.
Pseudonymous trader Bluntz tells his 259,000 followers on the social media platform X that he’s got his eye on the two-week chart of the Ethereum versus Bitcoin (ETH/BTC) pair.
The trader says that ETH/BTC is just days away from printing a rare bullish divergence, hinting at an outperformance of Ethereum over Bitcoin. A bullish divergence may indicate reversal areas amid rising momentum even though the price moves down or sideways.
Bluntz targets the 0.1 BTC level ($6,907), which is nearly 95% above current levels of ETH/BTC.
“Only eight days to go until ETH/BTC prints the first two-week bullish divergence since *checks notes*…. never.
0.1 [BTC] is obviously the target but we either undershoot or overshoot the f..k out of that.”
Outside of Ethereum, Bluntz is also bullish on the frog-themed memecoin Pepe (PEPE) – which he says is the best-looking major coin of its sector.
He says Pepe will be the “golden child” of memecoins while ETH/BTC bottoms out and regains traction.
“Look like PEPE was the best-looking meme of the majors after all.
With ETH/BTC likely bottomed (in my opinion), I think it will continue to be the golden child meme moving forward and likely goes higher than many are expecting possible but at the end of the day we’re all speculating here.”
At time of writing, PEPE is worth $0.000015.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Swill Klitch
