A prime crypto strategist and dealer is maintaining a detailed watch on a red-hot altcoin that he says is ripe to go parabolic even after doubling its worth in two weeks.
The pseudonymous dealer, recognized within the business as Pentoshi, tells his 285,000 Twitter followers that he’s bullish on REN, a platform that powers transactions between completely different blockchain platforms. In response to Pentoshi, REN is flashing indicators of energy in each the USD and BTC pairs.
“Have been ready for this pullback a few days. Lastly obtained it. Seems unimaginable market structure-wise.
LTF/HTF (low timeframe/excessive timeframe) parabola forming. Tremendous clear development of HH + HLs (greater highs + greater lows). Constructing momentum. Precisely what you wish to see. For now, concentrating on $1.34 on USD pair.”
CoinGecko exhibits that REN ignited an enormous transfer from $0.64 on September thirteenth to $1.17 on September twenty seventh, marking an 82% surge in simply two weeks.
One other coin on the dealer’s radar is Cosmos (ATOM), a undertaking dubbed the “web of blockchains.” In response to Pentoshi, Cosmos appears to be like sturdy towards Bitcoin (ATOM/BTC) after taking out an important resistance space at 0.0007 BTC, price $29.54.
Waking up. Multi-year breakout confirmed on the retest. Clear skies forward.”
As for ATOM/USD, Pentoshi believes the pair is now poised to print a brand new all-time excessive after retesting the important thing degree at $33 as help.
“As a result of worth discovery is beginning, it’s more durable to say. However I feel ATOM to $68-$70 is an effective worth goal within the coming weeks per [Fibonacci extension].”
Disclaimer: Opinions expressed at The Each day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses you might incur are your duty. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in affiliate internet marketing.
Featured Picture: Shutterstock/Warm_Tail