A prominent cryptocurrency analyst, Bluntz, has made a bullish prediction for Binance Coin (BNB), forecasting a significant price increase to $1,200. This optimism is based on technical analysis using the Elliott Wave theory, which suggests a five-wave pattern and a potential 71% increase from the current trading level.

BNB, the mainnet asset of the BNB Chain ecosystem, is currently trading at $700, just below its all-time high. The analyst's forecast suggests that the price will soon surpass this previous peak, driven by consistent upward momentum.

In addition to the BNB analysis, Bluntz also commented on the Ethereum/Bitcoin (ETH/BTC) trading pair, noting a potential reversal after a bearish breakdown. The analyst expects a significant move for the ETH/BTC trading pair, currently curving towards an upward trajectory.

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